Kallyope Inc. announced that it will issue 50,643,000 series D preferred shares at issue price of $5.45 per share for the gross proceeds $276,004,350 in funding on January 27, 2022. The shares are convertible, participating, non-redeemable and non-cumulative. The shares carry non-cumulative fixed dividend rate of 8% per annum.

The shares will be convertible in common shares at a fixed conversion price of $5.45 per share.