TOKYO, Jun 23 (Pulse News Wire) – Mynet Inc. (3928.T) secured funding through a rights issue aimed at developing applications for its upcoming project.
The company allocated shares to Zero Gaming Corporation (ZG Corp.), raising up to ¥300 million at a discount rate of 0% based on the average closing price over five trading days. The dilution ratio was less than 10%, ensuring existing shareholders' interests are protected. Key funds will be used for application development related to Multi Sport Tenkai and /Marketing Hiyou. Payment is due in July, with a discount rate set at 0% to balance necessary capital and shareholder benefits. Additionally, Dean Sadler from ZG Corp. will join as an advisor to strengthen governance and commit to long-term growth strategies.
--- In another move, Mynet Inc. separated its resources into two distinct categories: one dedicated to shareholder returns amounting to ¥700 million, and another for growth investments totaling up to ¥300 million. This strategic allocation ensures stable revenue generation while focusing on key growth areas. The company plans to implement these measures proactively during the fiscal year, optimizing capital efficiency. Following the rights issue, Zero Gaming Corporation holds a significant stake, becoming the second-largest shareholder with a ratio of 9.24%. Existing major stakeholders such as SBI Securities and Rakuten Securities also retained their positions, albeit with slight adjustments in shareholding ratios.
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