Tensho America Corporation announced a private placement of common shares for gross proceeds of $20,000,000 on August 23, 2021. The transaction will involve participation from returning investors Tensho Electric Industries Co., Ltd. and Sanko Soflan Holdings Co., Ltd. Post the closing, the stake of Tensho Electric Industries Co., Ltd. will change from 65% to 60% and Sanko Soflan Holdings Co., Ltd. will change from 35% to 40%. The transaction has been approved by the board of directors of Tensho Electric Industries Co., Ltd.
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- News Tensho Electric Industries Co., Ltd.
- Tensho America Corporation announced that it expects to receive $20 million in funding from Tensho Electric Industries Co., Ltd., Sanko Soflan Holdings Co., Ltd.