ACSL Ltd., the Tokyo-listed drone maker, has locked in the terms of a share offering aimed at investors in Europe and Asia, excluding the United States and Canada. A corrected extraordinary report filed August 26 fixes the offering price at ¥1,310 a share and the share count at 4,180,000, below the up-to-4,800,000-share ceiling the company had set when it first announced the deal on August 24.
The paid-in amount per share is ¥1,237.25, putting the total issue value at ¥5.17bn. After deducting an estimated ¥48mn in issuance costs, ACSL expects net proceeds of ¥5.12bn.
The use-of-funds split narrowed along with the raise. ACSL now plans to spend ¥3.12bn expanding its defense business between September 2026 and December 2029, down from the up-to-¥4.81bn it had earmarked under the original, larger structure. The ¥2bn allocation for North America-focused overseas expansion over the same period is unchanged.
| Metric | Preliminary (Aug 24) | Final (Aug 25/26) |
|---|---|---|
| Shares issued | Up to 4,800,000 | 4,180,000 |
| Offering price per share | Undetermined | ¥1,310 |
| Paid-in amount per share | Undetermined | ¥1,237.25 |
| Total issue value | Undetermined | ¥5.17bn |
| Net proceeds | Up to ¥6.81bn | ¥5.12bn |
| Defense-business investment | Up to ¥4.81bn | ¥3.12bn |
| North America expansion investment | ¥2bn | ¥2bn (unchanged) |
The filing is ACSL's second extraordinary report on the offering, following the version filed August 24.