Properst Co., Ltd. (JASDAQ:3236) announced that it will issue 6,850,000 common shares at a price of ¥146 per share for gross proceeds of ¥1,000,100,000 on October 20, 2020. The transaction will include participation from existing investor Shinoken Group Co., Ltd. (JASDAQ:8909). The company will receive funding through third party allotment of shares.

The company will incur issuance expenses of ¥7,150,000, which includes registration-related costs ¥3,200,000, documentation costs ¥2,750,000 yen, stock administration fee ¥500,000 and other expenses ¥700,000 and receive net proceeds of ¥992,950,000 in the transaction. The payment date for the shares is November 25, 2020.