D. Western Therapeutics Institute, Inc announced a private placement of 49 unsecured convertible bonds at a price of ¥18,367,347 per bond for gross proceeds of ¥900,000,003 and 24,324 11th stock acquisition rights at a price of ¥50 per stock acquisition right for gross proceeds of ¥1,216,200; for aggregate proceeds of ¥901,216,203 on June 20, 2022. The transaction will include participation from Whiz AIoT Evolution Fund L.P.; a fund managed by Whiz Partners Inc. The bonds are convertible at a fixed conversion price of ¥185 per share into 4,864,864 common shares. The bonds do not carry any interest and are redeemable.

The stock acquisition rights are exercisable into 2,432,400 common shares at a exercise price of ¥100 per share from July 19, 2022 to December 24, 2022. The payment date of the transaction is July 19, 2022. The transaction was approved by the board of directors of the company.