INEST, Inc. announced that it expects to receive ¥265 million in funding from Hikari Tsushin, Inc.

INEST, Inc. (JASDAQ:3390) announced that it has entered into a capital and business alliance agreement for a private placement of 32,508 third stock acquisition rights at ¥1.62 per share for gross proceeds of ¥265,000,000 on June 30, 2021. The transaction will include participation from returning investor Hikari Tsushin, Inc. (TSE:9435) for 1.7% stake in the company. The company will issue rights through third-party allotment method.

The initial exercise price is ¥81. The allocation date is July 16, 2021.