Morpho, Inc. (TSE:3653) announced a private placement of 100,080 shares at a price of ¥4,967 per share for gross proceeds of ¥499,665,600 on November 15, 2017. The transaction will involve participation from Miraca Holdings Inc. (TSE:4544). The company will carry out a capital tie-up with the investor.

The shares will be issued by a way of third party allotment. Post the closing of the transaction, the investor will hold 1.88% stake in the company. The company reported issuance expenses of ¥4,000,000.

The transaction is expected to close on December 7, 2017. The transaction has been approved by the board of directors of the company.