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An update from V-cube ( (JP:3681) ) is now available.
V-cube said it is still negotiating a definitive investment agreement with Japan Innovation Network Corp., under which a special purpose company would receive new shares via third-party allotment and subsequently make V-cube a wholly owned subsidiary through share consolidation. The transaction framework, first outlined in late March after the company fell under delisting criteria, remains contingent on terms acceptable to the sponsor and on agreements with lenders over a rational repayment schedule and financial covenants.
Japan Innovation Network Corp. has informed V-cube that it is currently difficult to finalize the agreement because talks with existing financial institutions have not yet produced a final deal, though those negotiations are progressing. V-cube plans to continue discussions toward executing the investment and will announce a definitive agreement once terms are settled, while warning that key dates such as the planned June shareholders’ meeting and the effective date of the share consolidation could change depending on the outcome.
More about V-cube
V-cube, Inc., listed on the Tokyo Stock Exchange Prime Market, operates in the technology sector and provides digital and communication solutions. The company is led by President and CEO Jun Mizutani and is currently working closely with financial institutions and sponsors to stabilize its capital structure and maintain its listing status.
Average Trading Volume: 1,953,328
Technical Sentiment Signal: Sell
Current Market Cap: Yen879.8M
Find detailed analytics on 3681 stock on TipRanks’ Stock Analysis page.