IGNIS LTD. (TSE:3689) announced a private placement of 673,200 common shares at a price of ¥1,411 per share for proceeds of ¥949,885,200 and 2,126, 18th warrants at a price of ¥25 per warrant for proceeds of ¥53,150, for aggregate gross proceeds of ¥949,938,350 on December 10, 2018. The transaction will include participation from new investors QK Co., Ltd. for 354,300 shares, SK Co., Ltd. for 269,300 shares and returning individual investor Yusuke Sato for 49,600 shares. Post the transaction, the investors QK Co., Ltd., SK Co., Ltd. and individual investor Yusuke Sato will hold 2.44%, 1.86% and 1.22% stake in the company respectively. The transaction is expected to close on December 26, 2018. The transaction has been approved by the board of directors of the company. The company will issue securities through third party allotment. The company will place ¥474,606,000 of the proceeds raised in the capital reserve. The warrants will be convertible into 212,600 shares at an exercise price of ¥1,411 per share. The exercise period of warrants will be from December 27, 2018 until December 26, 2019.