Eltes Co.,Ltd. announced a private placement to issue 5,107 units of 8th series stock acquisition rights at an issue price of ¥1,133 yen per 8th stock acquisition right for gross proceeds of ¥5,786,231 and 1,941 units of 9th series stock acquisition rights at an issue price of ¥1,936 yen per 8th stock acquisition right for gross proceeds of ¥3,757,776 for aggregate gross proceeds of ¥9,544,007 on July 24, 2023. The transaction will include participation from new investor, Dream No.10 Fund L.P., a fund managed by Modern Path LLC, an investment arm for 5,107 units and returning investor, TS-Partners Co., Ltd. for 1,941 units. The transaction has been approved by the board of directors of the company.

The company is expected to close the transaction on August 9, 2023. The company will also issue 510,700 shares of 8th Stock Acquisition Rights at an exercise price of ¥979 per share for ¥499,975,300 and 194,100 shares of 9th Stock Acquisition Rights at an exercise price of ¥1,030 per share for ¥199,923,000. The total amount of funds to be procured is ¥709,442,307 with estimated issuance costs ¥13,150,000.