Veritas In Silico Inc. (130A), listed on the Tokyo Stock Exchange Growth market, said it will issue Series 5 through 9 stock acquisition rights covering 3.6 million shares to three funds managed by Hong Kong-based Long Corridor Asset Management, expecting net proceeds of ¥1,773 million to fund research on its in-house drug candidates.
Most of the money comes from the Series 5 rights, which carry an exercise-price revision clause. The company will issue 30,000 rights covering 3 million shares at ¥85 per right. The initial exercise price is ¥426; from Oct. 30, 2026, it will be reset weekly to 90% of the closing price on the last trading day of the previous week, with no cap and a floor of ¥213.
Series 6 through 9 are target-issue rights with a revision option. Series 6 and 7 carry fixed exercise prices of ¥600 and ¥800, which the company said reflect its medium- to long-term share price targets. The board may add a revision clause if needed for fundraising. A supplementary document puts expected proceeds from Series 8 and 9 at ¥100 million and ¥125 million.
| Series | Exercise price | Potential shares | Proceeds |
|---|---|---|---|
| 5 | ¥426 initial (floor ¥213) | 3 million | ¥1,280.55 million |
| 6 | ¥600 | 200,000 | ¥120.104 million |
| 7 | ¥800 | 200,000 | ¥160.078 million |
The allottees are Long Corridor Alpha Opportunities Master Fund, MAP246 Segregated Portfolio of LMA SPC and BEMAP Master Fund Ltd. Transfers require the company's prior written approval.
The funds will cover animal studies and investigator-initiated clinical trials. The company plans about ¥2.5 billion in development research spending in 2027-2029. Its pipeline includes a nucleic acid drug to prevent acute renal failure, and cancer and ALS treatments being researched jointly with Mitsubishi Gas Chemical and The Jikei University School of Medicine, respectively.
The rights will be allotted on Oct. 29, 2026, and can be exercised from Oct. 30, 2026, to Oct. 29, 2029. The purchase agreement will be signed once the securities registration under the Financial Instruments and Exchange Act takes effect.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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