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    8186   JP3188000008

OTSUKA KAGU, LTD.

(8186)
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Otsuka Kagu, Ltd. announced that it expects to receive ¥3.8307721 billion in funding from Highlines Co., Ltd., Eastmore Global, Ltd, and other investors

02/15/2019 EDT

Otsuka Kagu, Ltd. (JASDAQ:8186) announced that it has entered into capital and business alliance agreement for a private placement of common shares and warrants for gross proceeds of ¥3,830,772,100 on February 15, 2019. The company will issue 13,110,000 common shares at ¥290.11 per share for gross proceeds of ¥3,803,342,100. The company will issue 65,000 series 1 pre-paid warrants at ¥350 per warrant for gross proceeds of ¥22,750,000 and 18,000 series 2 pre-paid warrants at ¥260 per warrant for gross proceeds of ¥4,680,000. The round will include participation from all new investors. Highlines Japan-China Alliance No. 1 Silent Partnership, Highlines Japan-China Alliance No. 2 Silent Partnership, and Eastmore Global, Ltd will subscribe 775,000 shares, 5,445,000 shares, and 6,890,000 shares respectively. Eastmore Global, Ltd, Highlines Co., Ltd., and Haibo Chen will subscribe 11,000 series 1 warrants, 30,000 series 1 warrants, and 24,000 series 1 warrants respectively. Highlines Co., Ltd. will subscribe 18,000 series 2 warrants. Series 1 warrants will be exercisable from March 11, 2019 to March 3, 2022 with an exercise price of ¥46,000 per share. Series 2 warrants will be exercisable from April 2, 2019 to March 3, 2024 with an exercise price of ¥46,000 per share. Highlines Japan-China Alliance No. 2 Silent Partnership will hold 13.34% stake and Highlines Japan-China Alliance No. 1 Silent Partnership will own 1.90% stake upon closing of the transaction. The company will incur expense in relation to the transaction. Payment period for shares will be from March 4, 2019 to June 30, 2019; series 1 warrants will be March 4, 2019; and series 2 warrants will be March 26, 2019. The company may pay issue expenses of ¥180,000,000 and will receive net proceeds of ¥3,650,772,100.


© S&P Capital IQ 2019
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Otsuka Kagu, Ltd. Technical Analysis Chart | 8186 | JP3188000008 | MarketScreener
Managers and Directors
Atsushi Murasawa President & Representative Director
Haruo Sano Director, GM-Administration & Manager-Planning
Mitsuo Tanaka Independent Director
Ichiro Ueno Director & General Manager-Sales
Hiroki Koma Director & GM-Product Distribution
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