Ishigaki Foods Co.,Ltd. (JASDAQ:2901) announced a private placement of 4,369,000 shares at issue price of ¥103 per share for gross proceeds of ¥450,007,000 on March 11, 2021. The transaction will include participation from Taku Shin. Taku Shin will hold 38.20% stake in the company post closing of the transaction. The company will also incur issuance expenses which includes introduction fees of agent, lawyer costs and other office costs of ¥31,000,000 receiving net proceeds of ¥419,007,000. The company will issue shares through third party allocation. The transaction is expected to close on March 29, 2021. The transaction has been approved by the board of directors of the company.