Celestial AI Inc. announced that it will issue 25,379,822 series C preferred shares at an issue price of $8.7077 per share for gross proceeds of $220,999,876.0294, and 200,895 series C-NV preferred shares at an issue price of $8.7077 per share for gross proceeds of $1,749,333.3915, for aggregate gross proceeds of $222,749,209.4209 on March 26, 2024. The preferred shares have a par value of $0.0001 per share. The preferred shares are non-redeemable.

The preferred shares carry fixed dividend rate of 6% per share and will be convertible into common shares at a fixed conversion price of $8.7077 per share each. The company will receive $174,999,918 pursuant to exemption provided under Regulation D.