Halio, Inc. announced that it will issue 45,794,246 series C preferred shares at issue price of $1.6716 per share for the gross proceeds $76,549,661.6136 in funding on January 24, 2017. 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 $1.6716 per share.