Fever Labs, Inc. announced that it will issue 22,548,793 series E-4 preferred shares of par value $0.001 per share for gross proceeds of $69,999,999.464547 on January 10, 2023. The shares carry non-cumulative, and participating fixed dividend value of $0.186263 per share per annum. The shares will be convertible into common shares at a fixed conversion price of $3.104379 per share.

The round will be raised at a post-money valuation of $1,303,348,548. The company will issue securities pursuant to exemption provided under Regulation D.