IpiNovyx Bio, Inc. announced that it will issue 57,988 series seed preferred stock at an issue price of $149.84 for gross proceeds of $8,688,921.92 and 10,295 series seed-1 preferred stock at an issue price of $127.36 for gross proceeds of $1,311,171.2 , for aggregate proceeds of $10,000,0093.12 on September 24, 2021. The securities will be convertible into common shares at a fixed conversion price of $149.84, and $127.36 per share respectively. The shares are convertible, non-cumulative and non-redeemable.

The shares carry non-cumulative fixed dividend rate of 6% per share. The company will issue securities of $10,000,000 pursuant to exemption provided under Regulation D.