GRANATA BIO Corp announced that it will issue 24,167,098 series A-1 preferred shares at an issue price of $0.5793 per share for gross proceeds of $13,999,999.8714, 346,186 series A-2 preferred shares at an issue price of $0.4634 per share for gross proceeds of $160,422.5924, 2,383,070 series A-3 preferred shares at an issue price of $0.4345 per share for gross proceeds of $1,035,443.915 and 1,154,414 series A-4 preferred shares at an issue price of $0.3419 per share for gross proceeds of $394,694.1466, for aggregate gross proceeds of $15,590,560.5254 on October 20, 2023. The shares are issued at $0.00001 par value per share. The preferred share will be convertible to common shares at its original issue price.

The preferred shares are not redeemable. The company will receive $13,999,999 pursuant to exemption provided under Regulation D. The transaction is being raised at a post-money valuation of $31,388,973.