ASJ, Inc. (TSE:2351) announced a private placement of 15,000 series 1 warrants at ¥348 per warrant for gross proceeds of ¥5,220,000 on May 20, 2016. The transaction will include participation from SMBC Nikko Securities Inc., Investment Arm via third party allotment method. The warrants are exercisable into 1,500,000 shares of the company at an exercise price of ¥524 per share. The warrants will be exercisable from June 8, 2016 to September 30, 2018. The allotment date for the warrants is expected on June 7, 2016. The company expects to incur certain issue costs as part of the transaction which includes legal expenses, value calculation expenses, and other trust bank expenses.