Kimuratan Corporation (TSE:8107) announced that it has enetered into a purchase agreement with Japan International Partners LLC for private placement of 1,543,200 common shares at a price of ¥32.4 per share for the gross proceeds of ¥49,999,680 and 149,135 15th special warrants at a price of ¥34 per warrant for the gross proceeds of ¥5,070,590, for aggregate gross proceeds of ¥55,070,270 on November 8, 2019. The minimum exercise price is 18 yen, but even with the minimum exercise price, the number of potential shares is 14,913,500 shares. The warrants are exercisable from November 26, 2019 to November 10, 2022. The company will raise funds through third party allotment. The company will pay ¥9,700,000 as expenses, for resulting in net proceeds of ¥45,370,270. The transaction was approved by the board of directors of the company. The transaction is expected to close on November 25, 2019.