CellSeed Inc. announced a private placement of of 69,000 24th stock acquisition rights at ¥29 per warrant for gross proceeds of ¥2,001,000 on May 15, 2023. The transaction will involve participation from returning investor Barclays Bank PLC, Investment Arm. The warrants will be exercisable into 6,900,000 common shares of the company.

The minimum exercise price of warrants is ¥178 per share. The warrants will be exercisable from allocation date to June 12, 2025. The company will issue securities through third-party allotment.

The transaction has been approved by the board of directors of the company. The transaction is expected to close between June 5, 2023 and June 12, 2023.