On July 18, 2018, CanBas Co., Ltd. (TSE:4575) closed the transaction. The company issued 33 units of second series unsecured convertible bonds with warrants at a price of ¥6,340,000 for gross proceeds of ¥209,220,000. The warrants issued in the transaction can be converted into 330,000 common shares at an exercise price of ¥634 per warrant. The company also issued 95 fourteenth series warrants at a price of ¥10,000 per warrant for gross proceeds of ¥950,000. The net proceeds of the transaction is ¥210,170,000. The transaction included participation from Milestone Capital Management Co., Ltd. The company will issue securities through third party allotment. The conversion price of the bond will now be ¥500.