Kodama Chemical Industry Co.,Ltd. announced that it expects to receive ¥3.83 million in funding from Advantage Partners, LLP
November 13, 2016
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Kodama Chemical Industry Co.,Ltd. (TSE:4222) announced a private placement of 7,235 1st series warrants at a price of ¥530 per warrant for gross proceeds of ¥3,834,550 on November 14, 2016. The transaction will include participation from existing investor Advantage Partners, LLP. Each warrant can be exercised into 1,000 common shares of the company at an exercise price of ¥54 per warrant. The company will receive ¥390,690,000 from the exercise of the warrants. The exercise period of the warrants will be from December 1, 2016 to November 30, 2018. The warrants will be issued by third party allotment. The company will incur issue costs includes registration taxes, judicial scrivener, and legal expenses ¥7,600,000, warrant fair value calculation fees to Akasaka International Accounting Co., Ltd. for ¥2,000,000, inspection fees related to antisocial forces for ¥600,000.
KODAMA CHEMICAL INDUSTRY CO.,LTD. is a Japan-based company mainly engaged in the automotive parts business, housing equipment and refrigeration parts businesses, and the entertainment business. It operates through three business segments. Automotive Parts segment manufactures and sells automotive parts such as instrument panels, bumpers, door panels, door trims, luggage trims, pillar garnishes, side mud guards, consoles, cylinder head covers, oil reservoir tanks, and other parts. Housing Equipment and Refrigeration Parts segment manufactures and sells home appliances such as wash mirror cabinets, bathroom ceilings, counter panels, bathtub aprons, washing machine bread, drain traps, sanitary parts, kitchen parts, refrigerator interior parts, office automation equipment parts, as well as food packaging-related products, and single-layer, multi-layer, and coated plastic sheet products. Entertainment segment manufactures and sells entertainment-related products such as game packages.