Watabe Wedding Corporation (TSE:4696) announced a private placement of 50,000,000 shares at a price of ¥40 per share for gross proceeds of ¥2,000,000,000 on March 19, 2021. The company will raise funding through third party allotment. The payment date of the transaction is from May 31, 2021 to August 31, 2021.

The transaction has been approved by the board of directors of the company. The transaction included participation from new investor Kowa Co.,Ltd. (JASDAQ : 7807) for total 83.46% stake in the company. The transaction need approval from the extraordinary general meeting of shareholders to be held on May 28, 2021.

The company will incur expenses of ¥106,500,000 in the transaction.