CommSeed Corporation announced that it has received ¥124.96 million in funding from Cykan Company Ltd, Next Innovation, Inc., Ouendan Co., Ltd., and Ozmiq, Inc.
June 28, 2013 at 09:30 am IST
Share
CommSeed Corporation (NSE:3739) announced a private placement of 7,634 shares at ¥16,369 per share for gross proceeds of ¥124,960,946 on May 24, 2013. Returning investor, Cykan Company Ltd will purchase 4,276 shares and new investors, Ouendan Co., Ltd. will purchase 1,832 shares, Ozmiq, Inc. will purchase 916 shares, and Next Innovation, Inc. will purchase 610 shares in the transaction. The company will receive the net proceeds of ¥120,000,000. The company will issue shares through third party allotment. The issuance date and settlement date for the transaction is June 28, 2013. Following the closing, the capital of the company will increase by ¥62,484,290. The company will pay various issuance costs of ¥4,960,946 in the transaction including advisory expenses of ¥2,250,000, inspection fees of ¥1,200,000, securities registration report documentation of ¥800,000, and registration expenses of ¥600,000. The transaction was approved at the company's board of directors' meeting.
On June 28, 2013, CommSeed Corporation closed the transaction. Following the closing, the capital reserve of the company increased by ¥62,476,656. The capital of the company has increased from ¥568,883,233 to ¥631,367,523.
CommSeed Corporation is a Japan-based company engaged in the development of mobile business that delivers contents and information to users via the Internet for mobile devices. The Company's mobile business has three services. Social game service is involved in the planning, development and management of social games, including those for social networking services (SNS). Measured rate smartphone game application service is involved in the development and sale of applications for smartphones. Outsourcing development and operation service is involved in the planning and operation from outsourced development for service Websites and application software of business partners.
CommSeed Corporation announced that it has received ¥124.96 million in funding from Cykan Company Ltd, Next Innovation, Inc., Ouendan Co., Ltd., and Ozmiq, Inc.