inspec Inc. (TSE:6656) announced a private placement of 592,900 common shares at ¥590 per share for gross proceeds of ¥349,811,000 on March 20, 2014. The shares will be subscribed by new investor Endeavor Partners SG Pte Ltd., along with existing investor Taiwan Kong King Co Ltd, FP Seicho Shien A Fund, a fund managed by existing investor, Friendly Partners Co., Ltd, You Planning Co., Ltd., and Kokusai Kyoiku Center Co., Ltd., which will invest for 169,400 shares, 84,700 shares, 169,400 shares, 84,700 shares, and 84,700 shares respectively. The shares will be issued by third party allocation. Pursuant to the transaction, Endeavor Partners SG Pte Ltd. and Taiwan Kong King Co Ltd. will own 6.51% and 3.26% stakes respectively in the company. The company will receive net proceeds of ¥335,311,000 after deducting various issue costs of ¥14,500,000 including legal expenses of ¥1,300,000, registration-related expenses of ¥1,500,000, share documentation expenses of ¥500,000, notification and other examination expenses of ¥2,200,000, and financial advisory expenses to Innovation Engine, Inc. of ¥9,000,000. Innovation Engine, Inc. will act as financial advisor to the company and will receive commission equal to amount corresponding 3% of the proceeds received. The Board of Directors of the company approved the transaction. The settlement date is April 7, 2014.

On April 7, 2014, inspec Inc. closed the transaction.