Birdman Inc. announced a private placement to issue 1,400,000 common shares at an issue price of ¥ 743 per share for the gross proceeds of ¥1,040,200,000 and 1,900 Series 7 stock acquisition rights at an issue price of ¥15,180 for the gross proceeds of ¥28,842,000; aggregate gross proceeds of ¥1,069,042,000 on May 9, 2024. The transaction will include participation from new investor Your Turn Co., Ltd. 1,400,000 shares and 1,900 rights. The transaction has been approved by shareholders and is expected to close on May 27, 2024.

The amount of funds raised is ¥1,440,542,000 and the breakdown are ¥ stock acquisition rights ¥28,842,000 and exercise of rights is ¥1,411,700,000. The exercise price of rights are ¥743 per right. The total amount of funds to be raised is ¥2,480,742,000, approximate amount of issuance expenses ¥127,600,000 and net proceeds ¥2,353,142,000.