Kozosushi Co., LTD. announced that it expects to receive ¥5.2 million in funding from Evolution Capital Management, LLC
August 26, 2019
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Kozosushi Co., LTD. (JASDAQ:9973) announced that it has entered into purchase agreement with investor for private placement of 520,000 6th stock acquisition rights at an issue price of ¥10 per stock acquisition right for gross proceeds ¥5,200,000 on August 27, 2019. The transaction will include participation from returning investor Evo Fund, a fund managed by 'returning investor' Evolution Capital Management, LLC. Each stock acquisition right is exercisable into 100 common shares at a price of ¥11 each and will receive proceeds of ¥577,200,000 on post exercise. The stock acquisition rights are issued through a third party allotment method. The exercise period for stock acquisition rights is from September 30, 2019 to September 25, 2020. The transaction has been approved by the board of directors and subject to shareholder's approval in extraordinary general meeting of the company will held on September 26, 2019. The transaction is expected to close on September 27, 2019. The company will pay issue expenses of ¥5,000,000.
Kozosushi Co.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of sushi and bento boxes, and supply and provision of raw materials to members as a franchise for Kosushi. The Company operates in three segments. The Takeout Sushi and others segment operates shops under the brand names Kozosushi and Chagetsu. It has directly-managed stores under name Curry House Spicy, Chunyodo and San Marco. Sushi Franchise (FC) business is providing brandâs using right and instruction for product manufacture and sale to get paid. The nursing and welfare business segment has facilities for the elderly with services Laport. The Delivery business segment includes combined home delivery business that provides home delivery sales of in-house prepared foods and home delivery services for nearby restaurants and home delivery FC business.