Mellow Inc. announced a private placement of 100 common shares at an issue price of ¥100,000 for gross proceeds of ¥10,000,000 on October 24, 2017. The transaction will involve participation from returning investor IGNIS LTD. (TSE:3689). Post the closing of the transaction, the shares issued by the company will increase from 3,954 to 4,054. The transaction is expected to close on November 8, 2017. The transaction was approved by the board of directors of the investor. On closing, the investor will hold 54.24% stake in the company.