Abpro Corporation announced that it will receive 3,303,963 series E preferred shares at a price of $9.08 per share for gross proceeds of $29,999,984.04 on October 31, 2019. The transaction will include participation from Abpro Bio International, Inc. The company expects to close the transaction by March 31, 2020.

On the same date, the company has issued 220,264 series E preferred shares for gross proceeds of $1,999,997.12 in its first tranche.