Precision System Science Co., Ltd. announced that it expects to receive ¥5.915 million in funding
August 26, 2018
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Precision System Science Co., Ltd. (TSE:7707) announced a private placement of 2,000,000 series 16 warrants at a price of ¥1.56 per warrant for gross proceeds of ¥3,120,000, 1,300,000 series 17 warrants at a price of ¥1.13 per warrant for gross proceeds of ¥1,469,000, and 1,300,000 series 18 warrants at a price of ¥1.02 per warrant for gross proceeds of ¥1,326,000, total gross proceeds of ¥5,915,000 on August 27, 2018. The company 4,600,000 shares per one warrant. The company will exercise series 16 warrants at ¥402 per share, series 17 warrants at ¥406 per share, and series 18 warrants at ¥411 per share. The amount of assets to be contributed upon the exercise of warrants ¥1,866,100,000. The estimated amount of issue expenses is broken down to: ¥5,000,000 for warrants appraisal expenses, attorney fees, and registration statement data creation expenses, ¥6,815,000 for regional legal affairs bureau registration fee, and ¥1,500,000 for other expenses. The warrants exercise period is September 13, 2018 to September 13, 2021. The transaction has been approved by the board of directors.
Precision System Science Co., Ltd. is engaged in the development, manufacture and sales of various devices for lab (laboratory) automation and clinical diagnosis. The equipment business provides various automated equipment for lab such as deoxyribonucleic acid (DNA) automatic extractors and others, immunochemical luminescence measuring devices, specimen pretreatment devices for clinical diagnosis, and fully automated gene diagnostic equipment, among others. The reagents and consumables business provide various reagents used for DNA extraction and protein purification, as well as dedicated plastic consumables such as reaction vessel and others. The maintenance-related segment is engaged in equipment maintenance business, and the sales of spare parts (replacement parts). The contract manufacturing business is engaged in the contract manufacturing business.