Source disclosure: February 27, 2026, 15:30 JST
PowerX,Inc. [485A.T]
TOKYO, Feb 27 (Pulse News Wire) – Powerx,inc. (485A.T) announced today that its subsidiary, Sea Power Grid Co., Ltd., will conduct a third-party allocation rights offering aimed at securing development and operational funds for its maritime power transmission project.
The move seeks to enhance technical, business, and financial foundations through capital and business tie-ups with participating investors. Sea Power Grid, established on February 09, 2024, focuses on developing electric transport ships and implementing offshore power transmission projects. The company's initiatives aim to address structural challenges such as high costs and limited grid infrastructure in remote island areas, promoting sustainable energy solutions and improving self-sufficiency rates across Japan. Under the proposed offering, PowerX will issue A-type preferred shares totaling 15,944 million yen per share, raising a total of ¥16.11 billion. Payment is scheduled for March 13, 2026.
Participating investors include Nippon Yusen Kabushiki Kaisha, PowerX, Craftia Corporation, and others. Post-offering, Sea Power Grid’s capital will increase to ¥16.11 billion, with PowerX maintaining a significant stake. The offering includes provisions allowing A-type preferred shareholders to participate in residual asset distributions and exercise voting rights in shareholder meetings. Scheduled key dates include the shareholders' meeting, and the investment contract signing also. The payment completion date is set for March 13, 2026.
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