Fundraising Through Stock Acquisition Rights with Adjustable Exercise Prices
First written in FY2020-Q2. 1 of 3 entries say "Advanced", first in FY2020-Q3. Latest entry: FY2020.
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- FY2020AchievedAnnual report
「All stock acquisition rights issued under the Companies Act during the fiscal year were fully exercised as of 16 January 2020.」
Exercise of all 8,800 stock acquisition rights with exercise-price adjustment provisions was completed, resulting in the delivery of 880,000 shares and proceeds of ¥917.401 million. - FY2020-Q3AdvancedAnnual report
「During the third quarter, share acquisition rights relating to bonds with share acquisition rights and other instruments with an exercise price adjustment clause were exercised as follows.」
During the third quarter, 6,092 rights were exercised, resulting in the delivery of 609,200 shares and proceeds of ¥597.244 million. The cumulative totals through the end of the third quarter were 6,425 rights, 642,500 shares and ¥621.230 million in proceeds. - FY2020-Q2First statedAnnual report
「The total number of shares underlying these stock acquisition rights is fixed at 880,000 shares, and the number of shares to be delivered is fixed at 100. This number will not change even if the exercise price is revised due to a rise or fall in the share price (although it may be adjusted as described in Note 1). If the exercise price is revised due to a rise or fall in the share price, the amount of funds raised through these stock acquisition rights will increase or decrease.」
For the 8,800 stock acquisition rights approved on 21 August 2019, the number of underlying shares was set at 880,000, with an exercise period from 9 September 2019 to 30 September 2022, a minimum exercise price of ¥477 and minimum proceeds of ¥423.2008 million. During the second quarter, 333 rights were exercised, resulting in the delivery of 33,300 shares and proceeds of ¥23.986 million.