Mediar Therapeutics, Inc. announced that it will issue 253,683,967 series A preferred shares at a price of $0.3352 per share for gross proceeds of $85,034,865.7384 on November 18, 2022. The shares are issued at a par value of $0.0001 per share. The company has entered into series A preferred stock purchase agreement in the transaction.

The shares are non-redeemable. The shares carry cumulative fixed dividend value of $0.0201 per share per annum. The shares will be convertible into common shares at a fixed conversion price of $0.3352 per share.

The round will be raised at a post-money valuation of $107,050,359. The company will receive $31,761,186 pursuant to exemption provided under Regulation D.