PhoenixBio Co., Ltd. (TSE:6190) announced a private placement of 40 units at a price of ¥25,000,000 per unit for proceeds of ¥1,000,000,000 and 9,141 21st stock acquisition rights at a price of ¥100 per stock acquisition right for gross proceeds of ¥914,100, for aggregate gross proceeds of ¥1,000,914,100 on March 13, 2020. The transaction will include participation from The Kenko Future Fund, a fund managed by Whiz Partners Inc. for ¥500,914,100 and Sanwa Starch Co., Ltd. for ¥500,000,000. The 21st stock acquisition rights have an exercise price of ¥547 per warrant. The transaction is expected to close on March 30, 2020. the company issued shares through third party allotment method. The bonds will be redeemed on December 29, 2023.