Nextiles, Inc. announced that it will receive $5,879,981.0368 in funding on April 29, 2022. The company will issue 1,980,508 series seed-1 preferred shares at issue price of $2.5246 per share for the gross proceeds $4,999,990.4968 and 1,128,193 series seed-2 preferred shares at issue price of $0.78 per share for the gross proceeds $879,990.54 in the transaction. The shares are convertible and non-redeemable.

The shares will be convertible in common shares at a fixed conversion price of $2.5246 and $0.78 per share respectively. The company will issue securities pursuant to exemption provided under Regulation D.