Astrocyte Pharmaceuticals Inc. announced that it will issue 25,636,060 series A preferred stock at a price of $0.3835 per share for gross proceeds of $9,831,429.01 on November 20, 2020. The shares are convertible, non-cumulative and non-redeemable. The shares carry non-cumulative fixed dividend rate of 8% per share. The shares will be convertible into common shares at a fixed conversion price of $0.3835 per share. The round will be raised at a post-money valuation of $17,511,634. The company will receive $8,655,148 pursuant to exemption provided under Regulation D.