MicroAd Repurchases 3.71% Stake From CyberAgent to Blunt Bond Dilution
MicroAd used a one-day ToSTNeT-3 trade to buy 1,020,400 shares, 3.71% of shares outstanding, from affiliate CyberAgent for ¥600.0mn, aiming to soften dilution from a new convertible bond and stock awards, while CyberAgent pledged to keep the rest of its stake long-term.