Sockets Inc. (TSE:3634) announced a private placement of 120,000 shares at ¥1,521 per share with new investor, Culture Convenience Club Co., Ltd. for gross proceeds of ¥182,520,000 on August 1, 2013. The investor will acquire 4.78% stake in the company through this transaction and hold 10.11% stake upon closing. The investor is also acquiring outstanding shares of the company through another acquisition transaction.

The shares will be issued by third-party allocation. The payment date and application date is August 19, 2013. The company will receive net proceeds of ¥180,820,000 after various issuance expenses of ¥1,700,000.

The issuance expenses include issue registration-related expenses of ¥750,000, processing fee concerning the trust bank of ¥450,000, and attorney's fee of ¥500,000. The board of the company approved the transaction.