PhoenixBio Co., Ltd. announced a private placement of 24,000 4th Stock Acquisition Rights at an issue price of ¥80 per Stock Acquisition Right for gross proceeds of ¥ 1,920,000 on May 13, 2022. The company will issue Stock Acquisition Rights through Third-Party allotment. The initial exercise price is ¥249.

The transaction will include participation from Milestone Capital Management Co., Ltd.