Mynet is using a third-party allotment to do more than raise cash for sports content. The company plans to sell up to 871,033 new shares to Zero Gaming, a stake of up to 9.24%, and spend the proceeds on fantasy-sports marketing and app development. If the allotment takes effect, Mynet also plans to put Zero Gaming’s chief forward for a director nomination at the next annual shareholder meeting after closing.
| Feature | Term |
|---|---|
| Strategic investor | Zero Gaming |
| Gross and net proceeds | Up to ¥300mn gross, about ¥298mn net |
| Share cap | 871,033 new shares |
| Post-issue stake cap | 9.24% |
| Pricing formula | Average closing price from June 19 to June 25, floor at 90% of the June 22 close |
| Cancellation clause | Mynet says it may cancel if the issue price is below ¥230 and the reduced funding would not support the alliance purpose |
| Main uses | ¥89mn-¥129mn for promotion, ¥109mn-¥169mn for app development and feature expansion |
| Governance link | Proposal to nominate Zero Gaming’s chief as a director at the next annual meeting after closing |
Mynet says sports content is its next growth pillar and cites its existing baseball and B.League-linked fantasy services as the template. In Mynet’s description, the format turns real players’ performances into game points and lets users compete on totals. The alliance is meant to pair Mynet’s platform know-how with Zero Gaming’s sports-industry network and advice on marketing, sports IP negotiations and overseas case studies.
Why this structure? Mynet says it wanted growth capital while capping dilution below 10%. The issue price will be set from the average closing price over five trading days from June 19 to June 25, subject to a floor at 90% of the June 22 close. If the final price is ¥345 or higher, the share count is sized to reach the ¥300mn funding target. If it is ¥344 or lower, Zero Gaming receives the cap of 871,033 shares. If the price falls below ¥230, Mynet says it will consult with Zero Gaming and may cancel both the share issue and the alliance if the reduced proceeds no longer support the plan.
The money is aimed at user acquisition and product build-out, not instant earnings. Mynet expects about ¥298mn net, with ¥89mn to ¥129mn for promotion and ¥109mn to ¥169mn for development and feature expansion through December 2027. The filing lists digital marketing, social-media campaigns and stadium-linked promotions, plus a common engine for more sports, native iOS and Android apps, real-time data links, and print or stadium-linked features. Mynet says the near-term impact on consolidated earnings should be minor.
One caution sits in the partner profile. Zero Gaming is getting a strategic role and planned long-hold restrictions, but the filing shows it recorded zero sales in each of the past three fiscal years and describes itself as still in a preparatory investment phase. In other words, this is a bet on access, product know-how and governance ties, not on an already scaled operating business. The disclosure does not set out post-deal user or revenue targets.