Sun Capital Management Corporation (JASDAQ:2134) announced a private placement of shares and 10th series warrants for gross proceeds of ¥497,208,000 on February 23, 2018. The company will issue 7,172,000 shares at ¥69 per share for ¥494,868,000 and 39,000 warrants at ¥60 per warrant for ¥2,340,000. Each warrant is exercisable into 3,900,000 shares at ¥69 per share. The transaction will include participation from existing investor, Ocean Pacific Management Pte Ltd for 5,000,000 shares will hold 20.89% stake post-closing of the transaction, Tomoko Ishida 724,000 shares will hold 1.29% stake, and Mitsuru Sato 724,000 shares and Katsuya Nagase 724,000 shares will hold 1.35% stake post-closing of the transaction. The securities will be issued through third party allotment. The warrants can be exercised from March 12, 2018 to March 11, 2020. The company will incur warrant evaluation expenses of ¥7,000,000, registration-related expenses of ¥3,000,000, and other expenses including stock fees and external examination expenses for ¥2,000,000. The company will receive net proceeds of ¥754,308,000 in the transaction. The transaction is expected to be completed by March 12, 2018. The transaction has been approved by board of directors of the company.