Kudan Inc. (TSE:4425) announced a private placement of maximum of 706,980 common shares for gross proceeds of maximum of ¥2,600,000,000 on January 27, 2020. The issue price of the shares is not be less than 90 percent of the closing value of the common shares on the business day immediately preceding the passing of resolution of board of directors of the company. The transaction will involve participation from Inventures GmbH, VITO Ventures Fonds I GmbH & Co. KG, a fund managed by Vito Ventures Management GmbH, Litquidity Capital UG (haftungsbeschränkt), BrightSide UG (haftungsbeschränkt), FabliTec UG (haftungsbeschränkt), Andrej Kulikov Holding UG (haftungsbeschränkt), Lapaero Gmbh, and Project A Ventures II GmbH & Co. KG, a fund managed by Project A Ventures GmbH & Co. KG. The 60% of the shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. The specifics regarding the timing, the number of shares, and any conditions for the allocation remain unconfirmed at this time. The transaction has been approved by the board of directors of the company.