SEKIDO Co., Ltd. announced that it expects to receive ¥3.1363 million in funding from Evolution Capital Management, LLC
May 27, 2020
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SEKIDO Co., Ltd. (TSE:9878) announced a private placement of 790,000 warrants in 4th stock acquisition right at an issue price of ¥1.395 for gross proceeds of ¥1,102,050; 790,000 warrants in 5th stock acquisition right at an issue price of ¥1.346 for gross proceeds of ¥1,063,340; 790,000 warrant in 6th stock acquisition right at an issue price of ¥1.229 for gross proceeds of ¥970,910; for an aggregate gross proceeds of ¥3,136,300 on May 27, 2020. The transaction will involve participation from existing investor, Evo Fund, a fund managed by Evolution Capital Management, LLC. The warrants are exercisable into approximately 2,360,042 common shares at an initial exercise price of ¥388 and will receive proceeds of ¥915,696,300 post exercise. The transaction is expected to close on June 12, 2020.
SEKIDO CO., LTD. is a Japan-based company mainly engaged in the sale of precious metal products and personal adornments. The Company operates through two business segments. The Fashion segment is mainly engaged in the on-the-counter sale and mail order sale of precious metal products, watches, bags, miscellaneous goods and fashion clothes, the provision and sale of products for retail companies, as well as the sale of home appliance products, air conditioning equipment, solar power generation systems and renovation products. The Leasing segment is mainly engaged in the leasing of stores and parking lots owned by the Company, as well as the leasing of stores rented from other companies.