Relay2 Inc. announced that it will issue 4,000,000 series seed 1 preferred shares at a price of $5 per share for the gross proceeds of $20,000,000 on December 3, 2019. The shares are non-redeemable. The shares carry non-cumulative fixed dividend rate of $0.4 per share.

The series seed-1 shares will be convertible into common shares at a fixed conversion price of $5 per share.