Avisa Pharma Inc. announced that it will issue 1,738,572 series A-1 preferred shares at a price of $2.3007 per share for gross proceeds of $3,999,932.6004 on October 17, 2014. The company will issue securities pursuant to exemption provided under Regulation D. The shares carry cumulative dividend rate of 8% per annum and will be convertible into common shares at a price of $2.3007 per share. The shares are redeemable. The round will be raised at post money valuation of $10,099,744.

On October 28, 2014, Avisa Pharma Inc. closed the transaction. The company issued 1,595,478 shares for gross proceeds of $3,670,716 to 23 investors.