Bras S.A. (WSE:BSA) announced a private placement of 38,000,000 series E1 shares at a par price of PLN 0.2 per share for gross proceeds of PLN 7,600,000 on June 10, 2020. Before the closing of the transaction, the share capital of the company is PLN 10,170,240 divided into 50,851,200 shares, which includes 446,890 series A1 shares of par value PLN 0.2 per share, 127,000 series B1 shares of par value of PLN 0.2 per share, 61,750 series C1 shares of par value of PLN 0.2 per share, and 50,215,560 series D1 shares of par value of PLN 0.2 per share. Post transaction, the share capital of the company will increase to PLN 17,770,240 divided into 88,851,200 shares, which will include 38,000,000 series E1 shares of par value of PLN 0.2 per share. The transaction has been approved by the supervisory board of the company, and is expected to close by June 24, 2020. On June 17, 2020, the management board of the company approved the transaction.