Raksul Inc.
Notice Regarding R1 Inc.’s Position on the Tender Offer for Shares of Raksul Inc. (Stock Code: 4384)
R1 Inc. raised the tender offer price for Raksul Inc. from 1,710 yen per share to 1,900 yen, an 11.1% increase, and extended the tender offer period until March 9, 2026.
Key Figures
- Revised Tender Offer Price: 1,900 yen (11.1% increase)
- Tender Offer Period: December 12, 2025 – March 9, 2026 (54 business days)
- Aspex Management share tender agreement concluded: 4.47%
AI要約
Overview of Changes to Tender Offer Conditions
R1 Inc. changed the terms of the tender offer for shares of Raksul Inc. conducted from December 12, 2025, by raising the tender offer price from 1,710 yen per share to 1,900 yen, representing an 11.1% increase. Additionally, the tender offer period has been extended by 11 business days, from February 19, 2026, to March 9, 2026. The price level is reasonable, including a premium of 52.00% to 65.07% compared to past MBO transactions, and it is explicitly stated that this will be the final price revision.
Impact on Shareholders and Future Outlook
Major shareholders, including Aspex Opportunity Master Fund (holding 4.47%), have concluded tender agreements, and other institutional investors are considering concluding tender agreements. The price is set above the median valuation by an independent third-party appraiser, and a market check has been conducted with no other acquisition proposals received. The tender offer aims to privatize Raksul, with the management team and R1 Inc. cooperating to enhance corporate value.
