Kotozna, Inc. announced that it will issue 300,000 class B preferred stock at an issue price of ¥500 per share for gross proceeds of ¥150,000,000 and convertible bonds with stock acquisition rights for gross proceeds of ¥150,000,000 for aggregate gross proceeds of ¥300,000,000 on January 31, 2024. The convertible bonds will be converted into class B preferred shares. The transaction has been approved by the board of directors.

The transaction will include participation from new investor, Virtualex Holdings, Inc. for 22.8% stake.