Okamoto Machine Tool Works, Ltd. announced that it expects to receive ¥42.98 million in funding from Daiwa Securities Co., Ltd., Investment Arm
September 09, 2021
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Okamoto Machine Tool Works, Ltd. announced a private placement of 7,000 units of 1st stock acquisition rights for ¥6,140 per unit for gross proceeds of ¥42,980,000 on September 10, 2021. The 1st, stock acquisition rights is convertible into 700,000 common shares of the company at an initial exercise price of ¥6,275 per 1st stock acquisition right and exercise period of 1st stock acquisition rights is between September 28, 2021 to September 27, 2024. The company will issue stock acquisition rights through third-party allotment. The transaction will include participation from Daiwa Securities Co., Ltd., Investment Arm. The transaction has been approved by the board of directors. The company will pay issuance expenses of ¥6,000,000. The transaction is expected to close on September 27, 2021.
OKAMOTO MACHINE TOOL WORKS,LTD. is a Japan-based company primarily engaged in the manufacture and sale of machine tools and semiconductor related equipment. The Company operates in two business segments. The Machine Tools segment is engaged in the manufacture and sale of grinding machines, such as precision surface grinders, rotary surface grinders, precision forming grinders, cylindrical grinders, inner grinders, center hole grinders, gear grinders, grindstones and grinding fluid products, as well as gear equipment, gears and castings. The Semiconductor Related Equipment segment is engage in the manufacture and sale of processing and grinding machines for semiconductors and electronic components, glass substrate polishing machines, back grinders, polishing machines, lapping machines, slicing machines, and solar cell ingot compound grinding machines.
OKAMOTO MACHINE TOOL WORKS, LTD. 
