Greens Co.,Ltd. announced that it expects to receive ?6.5 billion in funding from Development Bank of Japan Inc., Investment Arm, REVIC Capital Co., Ltd., AGS Consulting Co., Ltd., Investment Arm, DBJ Regional Investment Co., Ltd.
August 12, 2021
Share
Greens Co.,Ltd. announced a private placement of 6,000 Racial Preferred Stocks at a price of ?6,000 per share for gross proceeds of ?6,000,000,000 and 500 Class 8 Preferred Stock at a price of ?1,000,000 per share for gross proceeds of ?500,000,000 and aggregate gross proceeds of ?6,500,000,000 by third-party allotment on August 12, 2021. The Class 8 Preferred Stock are convertible in common stock at conversion price of ?504 per share. The transaction will include participation from 081 Food and Beverage / Accommodation Support Fund Investment Limited Partnership a fund managed by Development Bank of Japan Inc., Investment Arm for 6,000 Racial Preferred Stocks and Kinki Chubu Koiki Fukko Shien Fund, a fund managed by REVIC Capital Co., Ltd. and AGS Consulting Co., Ltd., Investment Arm for 500 Class 8 Preferred Stock. The transaction is expected to close on October 19, 2021. The transaction has been approved by the board of directors of the company. The company will receive net proceeds of ?6,238,000,000 after deducting Issuance fees of ?262,000,000 in the transaction.
GREENS CO.,LTD. is a Japan-based company mainly engaged in the operation of hotel and restaurant, as well as the other related businesses. The Company operates through two businesses. Choice hotels business is involved in the operation of the brand hotel named Comfort which is a hotel specializing in accommodation to cities designated by government ordinances nationwide. Greens hotels business is involved in the development of the hotels tailored to local characteristics, from hotels with banquet halls and restaurants to accommodation-specific hotels. The Compnay is also involved in the rental business and real estate management business.
Greens Co.,Ltd. announced that it expects to receive ?6.5 billion in funding from Development Bank of Japan Inc., Investment Arm, REVIC Capital Co., Ltd., AGS Consulting Co., Ltd., Investment Arm, DBJ Regional Investment Co., Ltd.