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V-cube Raises 1.80 Billion Yen via Third-Party Share Allotment

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V-cube (TYO:3681) said it raised 1.80 billion yen through a third-party allotment of 253.4 million Class V preferred shares to AVA3 HD Corporation at 7.1 yen apiece, according to a Tokyo bourse filing on Friday.

The cloud-based web service company said that the issuance of new shares, approved by the shareholders, will increase its share capital and legal capital surplus by about 899.5 million yen.

The planned share consolidation is scheduled to take effect on July 13, following the issuance of new shares.

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