Worth reading
65In focus
Scored from 3 of 5 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
42
¥ millionWording
Conditional
How definitive the wording is.Details of issuance or disposal
Issuance through third-party allotment of the 36th Series of Stock Acquisition Rights (with Exercise Price Adjustment Clause), the 37th Series of Stock Acquisition Rights and the 38th Series of Stock Acquisition Rights (change to the scheduled expenditure period for the use of proceeds from previously issued rights)
Amount of funds to be raised
Total: approximately ¥1,364,200,000 (estimated net proceeds: Not disclosed)
Specific use of funds
Redemption of these corporate bondsAmount ¥0 million
Operation of the “Solana Treasury Business” using the crypto asset SolanaAmount ¥750 million / Scheduled timing of expenditures October 2025–December 2027
SIAP-related expenses required for M&A transactionsAmount ¥100 million / Scheduled timing of expenditures November 2025 to June 2027
Growth funding for subsidiaries, both existing and new, including subsidiaries acquired through SIAP, and investee companies, as well as funding for the creation of new IP and the promotion of new businessesAmount ¥333 million / Scheduled timing of expenditures November 2025 to June 2027
Working capitalAmount ¥181 million / Scheduled timing of expenditures November 2025 to June 2027
Terms of the stock acquisition rights
Exercise price
The 36th Series of Stock Acquisition Rights is stated to include an exercise price adjustment clause, while the 37th Series is a fixed exercise price type; however, the initial exercise price and adjustment floor are Not disclosed. The exercise price of the 38th Series of Stock Acquisition Rights is also Not disclosed.
Most recent equity financing
Timing 2025 / Type Issuance through third-party allotment of the 36th, 37th and 38th series of stock acquisition rights / Amount Total: approximately ¥1,364,200,000 (planned amount), Timing Effective 15 May 2026 / Type Issuance of the 39th Stock Acquisition Rights through a third-party allotment, with an exercise price adjustment clause / Amount Not disclosed
Impact on Business Performance
The impact of the change in the use of proceeds on financial results is expected to be immaterial
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance through third-party allotment of the 36th Series of Stock Acquisition Rights (with Exercise Price Adjustment Clause), the 37th Series of Stock Acquisition Rights and the 38th Series of Stock Acquisition Rights (change to the scheduled expenditure period for the use of proceeds from previously issued rights) |
| Amount of funds to be raised | Total: approximately ¥1,364,200,000 (estimated net proceeds: Not disclosed) |
| Specific use of funds | Details Redemption of these corporate bonds / Amount ¥0 million / Scheduled timing of expenditures Not disclosed, Details Operation of the “Solana Treasury Business” using the crypto asset Solana / Amount ¥750 million / Scheduled timing of expenditures October 2025–December 2027, Details SIAP-related expenses required for M&A transactions / Amount ¥100 million / Scheduled timing of expenditures November 2025 to June 2027, Details Growth funding for subsidiaries, both existing and new, including subsidiaries acquired through SIAP, and investee companies, as well as funding for the creation of new IP and the promotion of new businesses / Amount ¥333 million / Scheduled timing of expenditures November 2025 to June 2027, Details Working capital / Amount ¥181 million / Scheduled timing of expenditures November 2025 to June 2027 |
| Exercise price | The 36th Series of Stock Acquisition Rights is stated to include an exercise price adjustment clause, while the 37th Series is a fixed exercise price type; however, the initial exercise price and adjustment floor are Not disclosed. The exercise price of the 38th Series of Stock Acquisition Rights is also Not disclosed. |
| Most recent equity financing | Timing 2025 / Type Issuance through third-party allotment of the 36th, 37th and 38th series of stock acquisition rights / Amount Total: approximately ¥1,364,200,000 (planned amount), Timing Effective 15 May 2026 / Type Issuance of the 39th Stock Acquisition Rights through a third-party allotment, with an exercise price adjustment clause / Amount Not disclosed |
| Impact on Business Performance | The impact of the change in the use of proceeds on financial results is expected to be immaterial |
Items this document does not state (22)
Number of shares to be issued or disposed ofIssue price and disposal priceTotal issue valueEstimated issuance expensesPayment dateIntended allotteeIntended allottee's holding policyDilution RateTotal number of issued sharesBasis for determining the amount to be paidExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioProcedures under the Corporate Code of ConductMajor shareholders after the offering
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.While ¥8 million was allocated to validator construction and related activities, completing the construction, the remaining ¥42 million will be allocated to enhancing validator operations and new development using the Solana blockchain. The stated reason is that these development projects are planned to proceed in stages through December 2027.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.