Techfirm Inc. (JASDAQ:3625) announced a private placement of 9,570 units of 6th series warrants at ¥2,000 per unit for gross proceeds of ¥19,140,000 on January 29, 2015. The company will issue 100 shares per unit. Each warrant will be exercisable at initial exercise price of ¥2,387 per share.

The warrant exercise period will start from February 18, 2015 and end on February 17, 2016. The transaction will include participation from Daiwa Securities Co., Ltd., Investment Arm. The transaction will take place through third party allocation.

The transaction has been approved by the board of directors of the company. The allocation date is February 17, 2015. The company will incur issuance expenses including, total of legal and warrant evaluation expenses, and other office expense like securities registration statement creation expenses, trust bank commissions, etc.

The warrants will be subject to a hold period from the signing date of agreement, until August 15, 2015.