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Share Issuance and Disposal5572Ridge-i Inc.Information and Communications, Services and Others

Notice of Change in Use of Proceeds

Regarding the funds raised in the 2023 IPO, equipment-related expenses will be reduced, with part of the funds reallocated to personnel-related expenses, research and development expenses, and IT-related expenses. The planned spending period for equipment-related expenses and IT-related expenses will also be extended through the fiscal year ending July 2029.

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Details of issuance or disposal

Specific use of funds
Personnel-related expensesAmount ¥167 million / Scheduled timing of expenditures Fiscal years ending July 2023 to July 2025
Research and development costsAmount ¥78 million / Scheduled timing of expenditures Fiscal years ending July 2023 to July 2025
Equipment-related expensesAmount ¥70 million / Scheduled timing of expenditures Fiscal years ending July 2023 to July 2029
IT-related expensesAmount ¥209.3 million / Scheduled timing of expenditures Fiscal years ending July 2027 to July 2029
Most recent equity financing
Timing 26 April 2023 / Type Funds raised in an IPO / Amount Not disclosed
Impact on Business Performance
The impact on results for the fiscal year ending July 2027 is immaterial
Details of issuance or disposal
ItemDetails
Specific use of fundsDetails Personnel-related expenses / Amount ¥167 million / Scheduled timing of expenditures Fiscal years ending July 2023 to July 2025, Details Research and development costs / Amount ¥78 million / Scheduled timing of expenditures Fiscal years ending July 2023 to July 2025, Details Equipment-related expenses / Amount ¥70 million / Scheduled timing of expenditures Fiscal years ending July 2023 to July 2029, Details IT-related expenses / Amount ¥209.3 million / Scheduled timing of expenditures Fiscal years ending July 2027 to July 2029
Most recent equity financingTiming 26 April 2023 / Type Funds raised in an IPO / Amount Not disclosed
Impact on Business PerformanceThe impact on results for the fiscal year ending July 2027 is immaterial
Items this document does not state (25)
Type of issuance or disposalNumber of shares to be issued or disposed ofIssue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesPayment dateIntended allotteeIntended allottee's holding policyDilution RateTotal number of issued sharesBasis for determining the amount to be paidExercise priceExercise 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.

To address increased demand from major companies for generative AI projects, it was determined that actively pursuing communications costs and other expenses necessary for using generative AI would be more effective than purchasing in-house servers to develop AI algorithms and products.

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.
Notice of Change in Use of Proceeds | Ridge-i Inc. (5572) timely disclosure | Komori