Nippon Chemi-Con Corporation (TSE:6997) announced that it will issue 40,000 warrants at a price of ¥488 for gross proceeds of ¥19,520,000 on August 31, 2020. Upon exercise of warrants, the company will receive proceeds of ¥6,774,520,000. The initial exercise price is ¥1,691 and minimum exercise price of warrants is ¥1,099. The transaction will include participation from SMBC Nikko Securities Inc. The company will receive funds through third party allotment of capital. The transaction is expected to close on September 16, 2020