Pixela Corporation announced a private placement of 2,850,000 16th stock acquisition rights at an issue price of ¥0.01 per stock acquisition right for gross proceeds ¥28,500 and 3,850,000 17th stock acquisition rights at an issue price of ¥0.01 for gross proceeds of ¥38,500 for aggregate gross proceeds of ¥67,000 on January 18, 2023. The transaction will include participation from returning investor, Evo Fund, a fund managed by Evolution Capital Management, LLC. Each stock acquisition right is exercisable into 100 common share at a price of ¥2 for 16th stock acquisition rights and ¥1 for 17 stock acquisition rights and will receive proceeds of ¥955,000,000 on post exercise of stock acquisition rights.

The stock acquisition rights are issued through a third party allotment method. The transaction is expected to close on February 1, 2023 for 16th stock acquisition rights and February 17, 2023 for 17th stock acquisition rights. The transaction has been approved by the board of directors of the company.