Infinicept, Inc. announced that it will issue 2,316,077 series A non-voting preferred shares at issue price of $5.61294 per share for the gross proceeds $13,000,001.24, 1,554,000 series A-1 preferred shares at issue price of $0.45045 per share for the gross proceeds $699,999.30, 2,937,865 series A-2 preferred shares at issue price of $0.93123 per share for the gross proceeds $2,735,828.02, 6,553,549 series A-3 preferred shares at issue price of $1.04531 per share for the gross proceeds $6,850,490.31, 3,041,565 series A-4 preferred shares at issue price of $1.64437 per share for the gross proceeds $5,001,458.24; for an aggregate gross proceeds of $28,287,777.10 on April 26, 2022. The shares will be convertible in common shares at their respective original issue price. The shares carry non-cumulative dividend value of 6% per annum per share.

Out of the total amount, the company will issue $25,000,000 pursuant to exemption provided under Regulation D.