Innovation Inc. (TSE:3970) announced that it will issue 3,795 of 6th stock acquisition right to SMBC Nikko Securities Inc., Investment Arm at a price of ¥2,772 per stock acquisition right for a total gross proceeds of ¥10,519,740 on July 15, 2020. The stock purchase rights will be issued through third party allotment. Each stock acquisition right is convertible into 100 shares of common stock resulting in 379,500 common shares of the company for three years starting from August 3, 2020 to expiry date August 31, 2023. The initial exercise price of stock acquisition right is ¥5,270 and the lower exercise price is ¥3,162. The transaction will be expected to complete on July 31, 2020. The estimated amount of expense will be ¥7,000,000 in the transaction. The transaction has been approved by the board of directors of the company.