SHARINGTECHNOLOGY INC. (TSE Growth: 3989) told regulators on September 10, 2026, that its board is recommending shareholders sell into a tender offer from MP-2606 KK, an acquisition vehicle set up by funds that MBK Partners services. The bid values each common share at ¥1,550 and each outstanding stock warrant at ¥1, and it runs for 30 business days, from September 10 through October 27, 2026.
| Feature | Detail |
|---|---|
| Bidder | MP-2606 KK, an MBK Partners-affiliated vehicle |
| Target | SHARINGTECHNOLOGY INC. (TSE Growth: 3989) |
| Offer price per common share | ¥1,550 |
| Offer price per warrant (15th and 16th series) | ¥1 per unit |
| Offer period | September 10 to October 27, 2026 (30 business days) |
| Minimum shares sought | 16,030,200 shares (63.58% of the enlarged share count) |
| Maximum shares sought | None set |
| Stated purpose | Full subsidiary conversion (take-private) |
The offer has a floor but no ceiling. MP-2606 will only start buying if at least 16,030,200 shares are tendered, a threshold designed to reach 63.58% of an enlarged share count that adds in the stock still issuable under SHARINGTECHNOLOGY's outstanding warrants. Measured against the voting-rights total the company reported in its half-year filing for the period to March 2026 instead, the same floor equals 67.02%. Once that minimum clears, there is no cap: every tendered share and warrant gets bought, a structure aimed at full ownership and delisting rather than a partial stake.
The two warrant series are not treated identically. Holders of the earlier, 15th-series warrants can only exercise them while serving as a director, auditor or employee of the company or an affiliated company, so MP-2606 says it plans to keep that series priced at ¥1 regardless of what happens to the offer timetable. The 16th series carries no such restriction: if the offer period is extended and a performance condition attached to those warrants is met during the extension, MP-2606 says it will refile and reprice the 16th-series warrants at the gap between the ¥1,550 share price and their ¥839 exercise price, multiplied by the 100 shares each warrant converts into.
SHARINGTECHNOLOGY's board approved the recommendation at a meeting on September 9, 2026, telling shareholders to tender while leaving warrant holders to decide for themselves. The board separately pre-cleared any warrant holder who does tender to transfer those warrants to MP-2606 once the offer succeeds. This is the company's first, unamended opinion statement on the bid.
MP-2606 itself is barely three months old: incorporated on June 11, 2026, it is currently wholly owned by funds to which MBK Partners or its affiliated companies provide services, including the Cayman-domiciled MBK Partners JC V, L.P..