Quaise Energy, Inc announced that it will issue 10,508,478 series A preferred shares at issue price of $4.2814 per share for the gross proceeds $44,990,997.7092 in funding on January 21, 2022. The shares are convertible. The shares will be convertible in common shares at a price of $4.2814 per share.

The round will be raised at post money valuation of $13,750,000. The company will issue securities pursuant to exemption provided under Regulation D.