Gremz, Inc. announced that it has received ¥423.14 million in funding from Eneres Co., Ltd.
September 02, 2014 at 05:00 am
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gremz, Inc. (JASDAQ:3150) announced a private placement of 388,200 shares at ¥1,090 per share for gross proceeds of ¥423,138,000 on August 18, 2014. The company will issue the shares to new investor, Eneres Co., Ltd. On closing, the investor will hold 10% stake in the company. The settlement date is expected on September 3, 2014. The company will issue the shares via third party capital increase. The company expects to incur issue costs including related document creation expenses, legal expenses, registration expenses, and others for ¥2,000,000 as part of the transaction. The net proceeds from the transaction will be ¥421,138,000. The transaction was approved by the board of directors of the company.
On September 2, 2014, gremz, Inc. closed the transaction. The shares of the company increased from 3,493,600 shares to 3,881,800 shares and nominal capital of the company increased from ¥387,680,100 to ¥599,249,100.
gremz,Inc. is primarily engaged in providing consulting services, various products and services related to electric power, as well as development of renewable energy. The Company operates in three business segments. The Energy Cost Solution segment is engaged in the proposal of energy cost reduction for corporations, the sale of light-emitting diode (LED) lighting equipment, and electricity retail business. The Smart House Project segment sells products that reduce environmental impact such as household solar power generation systems and storage batteries, as well as development of renewable energy. The Incubation segment is engaged in finding out new business, the sale of products through Website.