Inkbit Corp announced that it will issue 9,825,111 series B-1 preferred shares at an issue price of $1.0178 per share for gross proceeds of $9,999,997.97580, and 13,162,399 series B-2 preferred shares at an issue price of $0.8142 per share for gross proceeds of $10,716,825.2658, for aggregate proceeds of $20,716,823.2416 on April 19, 2024. The company has entered into series B-1 preferred shares and series B-2 preferred shares purchase agreement with investors in the transaction. The preferred shares have a par value of $0.0001 per share.

The preferred shares will be convertible in common shares at a fixed conversion price of $1.0178 and $0.8142 per share each respectively. The company will issue securities pursuant to the exemption provided under Regulation D.