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PowerX, Inc. ( (JP:485A) ) has provided an update.
PowerX, Inc. has confirmed the issuance of 1,158,200 new common shares via a third-party allotment to Mitsubishi UFJ Morgan Stanley Securities, slightly below the previously authorized maximum of 1,258,200 shares, with 100,000 unissued shares lapsing. The allotment, structured to facilitate the return of shares borrowed for over-allotment during the company’s recent listing-related offerings, will raise approximately ¥1.307 billion, increasing total issued shares to 37,599,800 and capital to about ¥5.31 billion. Combined with proceeds from domestic and overseas offerings, the funds—totaling roughly ¥5.961 billion—will be directed toward development of the PowerX Mega Power 2500, relocation of the Tokyo office, and construction of a second Power Base facility, underpinning the company’s product development and capacity expansion plans.
More about PowerX, Inc.
PowerX, Inc., listed on the Tokyo Stock Exchange Growth Market, develops and markets advanced power-related solutions, including large-scale battery and energy storage systems. The company is currently investing in products such as its PowerX Mega Power 2500 and expanding its operational infrastructure with new office and production facilities to support growth in Japan and overseas energy markets.
Average Trading Volume: 15,900,446
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