ImmPACT Bio USA Inc. announced that it will issue 1,478,864 series A preferred shares at issue price of $13.5239 per share for the gross proceeds $20,000,008.8496 in funding on June 9, 2020. The shares are convertible and cumulative. The shares carry cumulative fixed dividend rate of 8% per annum.

The shares will be convertible in common shares at a fixed conversion price of $13.5239 per share.