Phantom Auto Inc announced that it will issue 7,062,655 Series B Preferred Shares at an issue price of $14.21030 per share for gross proceeds of $100,362,446.3465? and 1,103,680 Series B-1 Preferred Shares at an issue price of $4.83014 per share for gross proceeds of $5,330,928.9152? for aggregate proceeds of $105,693,375.2617?

on November 12, 2021. The company will issue securities pursuant to exemption provided under Regulation D. The shares are convertible and non-redeemable. The shares carry non-cumulative dividend rate of 8% per annum.

The shares are convertible into common shares at original issue price.