Element Finance, Inc. announced that it will issue 1,633,943 series A preferred shares at an issue price of $19.5844 per share for the gross proceeds of $31,999,793.2892 on October 7, 2021. The shares carry non-cumulative fixed dividend rate of 4% per share. The shares will be convertible in common shares at a fixed conversion price of $19.5844 per share.

The company will receive $31,999,754 pursuant to exemption provided under Regulation D.