CanBas Co., Ltd. (TSE:4575) announced that it will issue 17,629 16th Stock Acquisition Rights at a price of ¥549 per stock acquisition right for the gross proceeds of ¥9,678,321 on November 5, 2020. The stock acquisition rights are converted into 1,762,900 common shares and have initial exercise of ¥610 per share and minimum exercise price of ¥305 per share. The expected fund raise through exercise of stock acquisition right are ¥1,085,047,321. The transaction include participation from existing investor Inflexion II Fund L.P., funds managed by Advantage Partners, Inc. for 4,524 stock acquisition rights, Investment Limited Partnership InfleXion II for 11,612 stock acquisition rights and Flagship Asset Management Investment Association No. 90 for 1,493 stock acquisition rights.