tella, Inc. (JASDAQ:2191) announced a private placement of 6,000,000 each of series 19, series 20 and series 21 warrants at an issue price of ¥0.29 per warrant, ¥0.16 per warrant and ¥0.14 per warrant respectively for gross proceeds of ¥1,740,000, ¥960,000 and ¥840,000 respectively, for an aggregate gross proceeds of ¥3,540,000 on June 7, 2019. The company has signed purchase agreement with the investor. The transaction will involve participation from Evo Fund, a fund managed by Evolution Capital Management, LLC. The warrants are exercisable into 18,000,000 shares at an exercise price of ¥215 and will receive proceeds of ¥3,870,000,000 post exercise. The warrant exercise period of series 19 warrant is about six months after issuance of the principle, of series 20 warrants is about six months from one year after issuance, and of series 21 warrants is about six months from two years after issuance. The company will incur issue expenses in the transaction. The transaction will take place through third party allotment method. The dilution rate will be 25% or more by this third-party allocation. The transaction is expected to close on December 25, 2019. The transaction has been approved by the board of directors of the company and may require approval of shareholders of the company.