Press release
Nov 29, 2023

Sosei Heptares Announces Determination of the Issuance Terms for its New Shares, Convertible Bonds and Third Party Allotment


Tokyo, Japan and Cambridge, UK, 29 November 2023 – Sosei Group Corporation (“Sosei Heptares” or “the Company”; TSE: 4565) announces that it has determined the issuance terms and certain other matters for its new shares (the “New Shares”), Euro-yen denominated convertible bonds due 2028 (the “Bonds”; the stock acquisition rights incorporated therein shall be referred to as the “Stock Acquisition Rights”) and third party allotment to JICVGI Opportunity Fund No.1 Investment Limited Partnership (the “Third Party Allotment”), the issuance and/or offering of which was resolved at the meeting of its Board of Directors held on 28 November 2023.

 

1.     Isuance of New Shares through an International Offering (the “Share Offering”)

(1)     Number of New Shares to be Issued:  1,500,000 shares 

(2)     Issue Price (Offer Price):  JPY 1,426 per share

(3)     Aggregate Issue Price:  JPY 2,139,000,000

(4)     Amount to be Paid:  JPY 1,368.96 per share

(5)     Total Amount to be Paid:  JPY 2,053,440,000

(6)     Amount of Capital Stock and Capital Reserve Increase 

          Amount of capital stock to be increased:  JPY 1,026,720,000

          Amount of capital reserve to be increased:  JPY 1,026,720,000

(7)     Closing Date:  14 December 2023 (GMT)

 

(Note)  The New Shares are to be underwritten and purchased by the Underwriter at the amount to be paid, and offered at the Issue Price (Offer Price).

 

2.     Issuance of Euro-yen Denominated Convertible Bonds due 2028 through an International Offering (the “Bond Offering”)

Particulars of the Stock Acquisition Rights

(1)     The Value of the Asset to be Contributed to Capital upon Exercise:

         Equal to the principal amount of the Bonds

(2)     Conversion Price:   JPY 1,782

                 (For Reference)

                 Share Price, etc. on the Pricing Date (28 November 2023)

     (i)  Share Price (Closing Price) on the Tokyo Stock Exchange:   JPY 1,534

     (ii)  Conversion Premium

     [{(Conversion Price)/(Issue Price (Offer Price) of the New Shares) – 1} x 100%] = 24.96%

     *The Conversion Premium is being calculated on the basis of the Issue Price (Offer Price) of the New Shares.

 

3.     Third Party Allotment

(1)     Number of New Shares to be Issued:  5,610,000 shares 

(2)     Issue Price (Offer Price):  JPY 1,426 per share

(3)     Aggregate Issue Price:  JPY 7,999,860,000

(4)     Amount of Capital Stock and Capital Reserve Increase 

          Amount of capital stock to be increased:  JPY 3,999,930,000

          Amount of capital reserve to be increased:  JPY 3,999,930,000

(5)     Closing Date:  15 December 2023

 

4.     Concurrent Repurchase and Cancellation of Existing Convertible Bonds

The Company has determined that it will repurchase any and all of the outstanding JPY 30,000,000,000 0.25 per cent convertible bonds due 2026 (ISIN: XS2363140810), which will be cancelled by the Company after the repurchase.

 

-ENDS-

 


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