Kozosushi Co., LTD. announced that it expects to receive ¥2.6578 million in funding from HANSHINSHUHAN,Inc.
August 13, 2020
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Kozosushi Co., LTD. (JASDAQ:9973) announced that it has entered into purchase agreement with investor for private placement of 2,740,000 10th stock acquisition rights at an issue price of ¥0.97 per stock acquisition right for gross proceeds ¥2,657,800 on August 14, 2020. The transaction will include participation from HANSHINSHUHAN,Inc. Each stock acquisition right is exercisable into common share at a price ¥72 and will receive proceeds of ¥199,937,800 post exercise of 10th stock acquisition rights. The stock acquisition rights will be issued through a third party allotment method. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 31, 2020.
KOZO Holdings Co Ltd, formerly Kozosushi Co Ltd, is a Japan-based company mainly engaged in the retail business, food and beverage business and distribution business. The Company operates in three business segments. The Retail Business segment is divided into retail business and franchise (FC) business. The retail business sells takeaway sushi. The FC business enters into contracts with franchisees based on a franchise system, provides name recognition and credibility through the use of trademarks, and provides guidance on store construction, product manufacturing, product sales and receives royalty income. The Food and Beverage Business segment operates eat-in style restaurants and FC business. The Distribution Business segment is divided into delivery business and food wholesale business. The delivery business sells home delivery of in-house cooked products. The food wholesale business is engaged in wholesale of commercial food ingredients.