Kimuratan Corporation (TSE:8107) announced a private placement of 6,451,000 common shares at a price of ¥31 per share for the gross proceeds of ¥199,981,000 and 48,370 14th warrants at a price of ¥104 per warrant for the gross proceeds of ¥5,030,480 on August 27, 2019. The warrants have an exercise price of ¥31 per share. The warrants are convertible into 4,837,000 shares. The transaction will include participation from new investors Koji Kiyokawa for 32,250 warrants and 6,451,000 common shares for 7.91% stake along with the participation from Daito Shokai Co., Ltd. for 16,120 warrants. Daito Shokai Co., Ltd. will acquire 1.32% stake in the company after the conversion of warrants.The warrants are exercisable between September 14, 2019 and August 13, 2021. The company will raise funds through third party allotment. The transaction was approved by the board of directors of the company. The transaction is expected to close on September 13, 2019.