Cross Rink Inc. announced that it expects to receive ¥12.380355 billion in funding from Nisso Corporation, HIRAYAMA HOLDINGS Co.,Ltd., WILLTEC Co.,Ltd.
December 15, 2020
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Cross Rink Inc. announced that it will issue 334 shares at an issue price of ¥10,855,000 per share for gross proceeds of ¥3,625,570,000 and 367 shares at an issue price of ¥23,855,000 for gross proceeds of ¥8,754,785,000 for aggregate gross proceeds of ¥12.380,355,000 on December 16, 2020. The transaction will involve participation from returning investors Nisso Corporation (TSE:6569) and WILLTEC Co.,Ltd. (TSE:7087) for 167 shares for gross proceeds of ¥1,812,785,000 each respectively and new investor HIRAYAMA HOLDINGS Co.,Ltd. (JASDAQ:7781) for 367 shares for gross proceeds of ¥8,754,785,000. Post the closing, Nisso Corporation (TSE:6569)'s stake will reduce from 14.29% to 13.14%, WILLTEC Co.,Ltd. (TSE:7087)'s stake will increase from 9.52% to 10.33%, and HIRAYAMA HOLDINGS Co.,Ltd. (JASDAQ:7781)'s will acquire 10.33% stake in the company. The company will issue shares through third party allotment method. The transaction is expected to close on January 29, 2021.
On January 19, 2021, the board of directors of Nisso Corporation (TSE:6569) approved the transaction.
WILLTEC Co.,Ltd. is engaged in the manufacturing support business, construction support business and EMS business. The Company operates in three business segments. The Manufacturing Support segment is mainly engaged in the manufacturing contracting and dispatching business, the mechanical and electrical engineer dispatching business, and the repair service business. The Construction Support segment conducts construction engineer dispatching business. The EMS segment includes contract manufacturing and electronic parts wholesale. The other businesses include support for the disabled, livestock industry business and overseas businesses.
Cross Rink Inc. announced that it expects to receive ¥12.380355 billion in funding from Nisso Corporation, HIRAYAMA HOLDINGS Co.,Ltd., WILLTEC Co.,Ltd.