Reported Earlier, LogProstyle Prices $10M Initial Public Offering Of 2M Japanese Common Shares At $5/Share

LogProstyle intends to use the net proceeds from the offering for the development and expansion of ProstyleRyokan's business operation in Japan by developing and managing additional Machinaka Ryokans, a particular type of hotel located in a central urban area featuring traditional Japanese architecture and decor elements. Net proceeds will also be allocated to the formation of joint ventures with local companies for the development of Machinaka Ryokans in the United States and the United Arab Emirates. Additionally, the Company plans to use a portion of the net proceeds for the development and expansion of its real estate renovation and resale businesses in Japan, other Asian countries, and the United States.