Mitesco, Inc. announced that it has entered into a security purchase agreement of 140,000 Series F 12% PIK convertible perpetual preferred stock and warrants to purchase shares of common stock at a price of $1,000 for the gross proceeds of $140,000,000 on April 11, 2023. The company will issue securities pursuant to exemption provided under Regulation D.


On the same day the company received gross proceeds of $650,000 in its first tranche. The company raised $511,000 after deducting placement agent fees and expenses and estimated offering expenses payable by the company.