Sun Capital Management Corp. (JASDAQ:2134) announced at private placement of 10,000,000 common shares at a price of ¥70 per share for proceeds of ¥700,000,000 and 114,300 11th series stock acquisition rights at a price of ¥100 per stock acquisition right for proceeds of ¥11,430,000 on December 27, 2019. The stock acquisition rights are exercisable at a price of ¥70 per share for proceeds of ¥811,530,000. Post the transaction proceeds of ¥350,000,000 will go towards the capital of the company and proceeds of ¥350,000,000 will go towards the capital reserve of the company. The securities will be issued through third party allotment. The transaction will include participation from SH Holdings Ltd. Post transaction, the investor will hold 27.67% stake in the company. The transaction has been approved by the shareholders of the company. The company expects to close the transaction on January 21, 2020.