Premium Water Holdings,Inc. announced that it expects to receive ¥1.002223 billion in funding from Macquarie Bank Limited
June 30, 2021
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Premium Water Holdings,Inc. announced that it has entered into a purchase agreement for a private placement of 40 1st unsecured convertible bond-type bonds with stock acquisition rights at a price of ¥25,000,000 per bond for gross proceeds of ¥1,000,000,000 and 11,400 pre-paid 13th stock acquisition rights at a price of ¥195 each for gross proceeds of ¥2,223,000 for gross proceeds of ¥1,002,223,000 on June 30, 2021. The company is raising funding through third arty allotment method. The transaction will include participation from new investor Macquarie Bank Limited. The bonds will not bear any interest and will mature on July 19, 2024. The bonds and stock acquisition rights will be convertible into 250,000 common shares of the company at a price of ¥4,000 per share. The 13th stock acquisition rights will be exercisable to purchase 1,140,000 potential shares at an initial exercise price of ¥4,400. The company will pay ¥41,000,000 for attorney's fees, valuation costs, trust bank costs, registration costs, etc. All securities issued will be subject to lock-up restrictions. The transaction is expected to close on July 16, 2021.
Premium Water Holdings Inc is a Japan-based company mainly engaged in the manufacture and sale of natural mineral water and home office delivery business which manufactures natural mineral water. The main product is 12L natural mineral water, which includes in-house production and original equipment manufacturer (OEM) production in Fujiyoshida City, Yamanashi Prefecture; Asago City, Hyogo Prefecture; Asago City, Hyogo Prefecture; Omachi City, Nagano Prefecture; Hamada City, Shimane Prefecture and Minamiaso Village, Aso County, Kumamoto Prefecture. The Company provides mineral water delivery services centered on the brand PREMIUM WATER mainly through the three sales methods of direct sales, distributors, original brand name (OEM) and through demonstration sales, WEB and telemarketing. The Company lends water servers to customers of direct sales, distributors and special agents, and wholesales water servers to customers of agents. The Company also conducts as a sales representative.