Forside Co., Ltd. (JASDAQ:2330) announced a private placement of 2,000,000 common shares at a price of ¥275 per share and 250,000 10th series pre-paid warrants at ¥800 per warrant for gross proceeds of ¥570,000,000 with Eastmore Strategies (Asia) Limited on December 27, 2017. The warrants are exercisable into 100 shares per warrant at ¥275 per share for additional proceeds of ¥687,500,000 from January 19, 2018 to January 18, 2021. The securities are to be issued by third party allotment. The common share portion of the transaction is expected to close on January 19, 2018 and the warrants are expected to be settled by January 12, 2018. The net proceeds from the common share portion of the deal will be ¥544,868,000. The costs will include registration taxes, legal expenses, warrant value calculation fees, and other clerical expenses. The transaction was approved by the Board of Directors of the company.