ELSA, Corp. announced that it will issue 10,108,662 series C preferred shares at issue price of $2.3742 per share for the gross proceeds $23,999,985.3204 in funding on June 20, 2023. The shares are convertible, non-redeemable and non-cumulative.

The shares carry non-cumulative dividend rate of 8% per annum. The shares will be convertible in common shares at a price of $2.3742 per share.