Trans Genic Inc. announced that it expects to receive ¥17.45 million in funding from Merrill Lynch Japan Securities Co., Ltd., Investment Arm
October 11, 2017
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Trans Genic Inc. (TSE:2342) announced that it has entered into an agreement for a private placement of 3,500 series 5 warrants at a price of ¥4,987 per warrant for gross proceeds of ¥17,454,500 on October 11, 2017. The transaction will involve participation from Merrill Lynch Japan Securities Co., Ltd., Investment Arm. The warrants can be potentially converted into 3,500,000 shares. The warrants can be exercised into shares between October 30, 2017 and October 29, 2019. The warrants have an initial exercise price of ¥633 and a minimum exercise price of ¥444. The warrants will be issued by a way of third party allotment. The company will bear expenses including attorney fees, price calculation expenses, judicial scrivener expenses, trust bank fees with respect to the transaction. The transaction is expected to close on October 27, 2017.
TRANS GENIC INC. is a Japan-based company mainly engaged in the biotechnology business. The Company has three business segments. The Contract Research Organization (CRO) segment is engaged in the provision of contract clinical tests for pharmaceuticals and foods, pharmacodynamic pharmacology tests, safety pharmacology tests, pharmacokinetic tests, and non-clinical tests such as safety tests for pesticides and food, the contract production of genetically modified mice and antibody, the sale of model mice, as well as the development of new biomarkers. The Diagnostic Analysis segment is engaged in the provision of pathological diagnosis services, gene analysis contract services, and drug discovery support services for individualized medicine. The TGBS segment is engaged in the provision of advice and support services for business succession and revitalization in various fields, as well as the electronic commerce (EC) business such as the retail and wholesale of electrical products.
TRANS GENIC INC. 
