CommSeed Corporation (NSE:3739) announced a private placement of 40 units of 3rd series unsecured bonds at ¥2,500,000 per bond and 271 units of 5th series warrants at ¥2,500 per warrant for aggregate gross proceeds of ¥100,677,500 on May 12, 2016. The bonds will be issued at par and will carry a fixed interest rate of 1% per annum. Each bond will be convertible at a fixed conversion price of ¥370. Each unit of warrant will be exercisable into 1,000 shares and will have an exercise price of ¥370,000. The exercise period will start from June 10, 2016 and end on June 9, 2018. The transaction will include participation from returning investors; Milestone Capital Management Co., Ltd. for ¥50,000,000 of bonds and 271 units of warrants and Cykan Company Ltd for ¥50,000,000 of bonds. The payment date is June 10, 2016. The company will incur expenses including warrant evaluation expenses, registration-related expenses, and other expenses including stock fees and external inspection expenses. The transaction has been approved by the board of directors of the company.