Pado Corporation (JASDAQ:4833) announced a private placement of 4,500,000 warrants at an issue price of ¥0.63 per warrant for gross proceeds of ¥2,835,000 on June 5, 2020. The company has signed stock acquisition right with the investor. The transaction will involve participation from Evo Fund, a fund managed by Evolution Capital Management, LLC. The warrants are exercisable into approximately 4,500,000 common shares at an initial exercise price of ¥275 and will receive proceeds of ¥1,237,500,000 on exercise. The warrant exercise period is from June 30, 2020 to February 17, 2021. The transaction will take place through third party allocation. The transaction is expected to close on June 29, 2020. The transaction has been approved by the board of directors of the company. The minimum exercise price will initially be ¥148 and there will no be maximum exercise price.