Issued private placement bonds through Siiibo Securities

GarageBank Corporation is pleased to announce that we have issued small-scale*1 private placement bonds using the bond-issuance and purchase platform operated by Siiibo Securities Inc. (Headquarters: Chuo-ku, Tokyo; Representative Director: Kazuki Komura; hereinafter "Siiibo Securities").

*1 Limited to fewer than 50 solicited investors

Background of the bond issuance

Siiibo Securities supports corporate fundraising through bond issuance. Interest in debt-based*2 funding options for emerging companies has been growing in recent years, and demand from issuers has increased. Among debt-based funding methods, Siiibo Securities is distinctive in that it allows companies to raise funds privately from individual investors who identify with the company's mission and services.

*2 "Debt" refers to liabilities, including borrowings from financial institutions and bond issuance — i.e., methods of fundraising through borrowing.

Comment from Yoshihito Yamamoto, Representative Director and CEO

We are a startup creating a new experience around the management and use of personal asset items by establishing mechanisms that instantly convert the value of physical goods into liquidity, in pursuit of a society in which anyone can take on new challenges.

By leveraging Siiibo Securities' platform, we have been able to introduce our business to many individual investors and receive their support through investment in our bonds. We are delighted to have broadened our fundraising options — a critical management priority — and we extend our heartfelt gratitude to the many individual investors who supported us.

We will use these funds as a driving force in our pursuit of a society in which everyone can take on new challenges through the value of physical goods.