Shodensya Co., Ltd. (TSE:1711) announced a private placement of 2,000,000 1st series unsecured convertible bonds with warrants at ¥100 per bond and 13,845 units of 5th series warrants at ¥830 per warrant for gross proceeds of ¥211,491,350 on April 3, 2015. The bonds will be issued at par and will mature on April 19, 2018. The bonds will be convertible into common shares of the company at a fixed conversion price of ¥939 per share.

The convertible bonds with warrants can be exercised during the period through April 20, 2015 to April 19, 2018. The transaction will close on April 20, 2015. The 5th series warrants will be exercisable into common shares of the company at ¥939 per share through April 20, 2015 to April 19, 2017.

The transaction will involve participation from existing investor Oak Capital Corporation, Investment Arm. The investor will hold 46.44% stake in the company upon completion of the transaction. The securities will be issued through third party allotment.

On the same date, the transaction was approved by the board of directors of the company. The company will bear issuance expenses in connection with the transaction including advisory expenses, registration-related expenses, legal expenses, warrant value calculation expenses, and other expenses.