CAVE Interactive CO.,LTD. announced that it expects to receive ?590.2 million in funding from Deluxe Games,Inc.
November 31, 2021
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CAVE Interactive Co., Ltd. announced a private placement of 650,000 shares common shares at a price of ?908 per share for proceeds of ?590,200,000 on November 1, 2021. The transaction will include participation from new investor, Deluxe Games,Inc. The investor will acquire 11.06% stake through this transaction. The transaction has been approved by the board of directors of the company. The company will issue shares by way of third party allotment. The transaction is expected to close on November 17, 2021. The company will pay ?2,990,000 as expenses including registration statements of ?642,000, attorney's fees of ?100,000, registration costs of ?2,065,000, and investigation costs of scheduled allocation destinations of ?183,000, bringing the net proceeds to ?587,209,150.
Cave Interactive Co Ltd is a Japan-based company mainly engaged in the development and operation of mobile online games, the provision of support and management services for Internet video distributors, and the multi-channel network business. The Interactive segment is engaged in the development and operation of games for mobiles and computers such as Do Don Pachi Dai Fukkatsu, Death Smiles, Mushihimesama, Akai Katana and others, as well as the provision of live distribution services.