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ACSL Board Approves 4.8 Million New Shares for International Offering

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ACSL (TYO:6232) said its board approved an international offering of 4.8 million new common shares, including 3.8 million shares to be underwritten and purchased by the underwriter, according to a Tokyo Stock Exchange filing on Tuesday.

The drone manufacturer said the remaining 1 million common shares will also be underwritten and purchased by the underwriter based on investor demand.

The issue price will be determined by Wednesday through a book-building process, and the offering will target overseas markets, including Europe and Asia, excluding the United States and Canada.

The proceeds will be used to expand defense-related businesses, including airframe development, production capacity, and supply systems, and support global expansion.

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