Mycoworks, Inc. announced that it has entered into series C preferred stock purchase agreement and will issue 31,970,000 series C preferred stock at a price of $3.949 per share for the gross proceeds of $126,249,530 on January 6, 2022. The shares are non-redeemable. The shares carry non-cumulative, and participating fixed dividend value of $0.2369 per annum per share.

The shares will be convertible into common shares at a fixed conversion price of $3.949 per share.