Oishii Farm Corporation announced that it will issue 2,751,777 series B-2 preferred shares at an issue price of $12.3671 per share for gross proceeds of $34,031,501.3367 and 934,602 series B-3 preferred shares at an issue price of $20.6119 per share for gross proceeds of $19,263,922.9638, for aggregate gross proceeds of $53,295,424.3005 on January 23, 2024. The shares are issued at $0.00001 par value per share. The shares carry non-cumulative fixed dividend rate of 5% per share per annum.

The preferred share will be convertible to common shares at its original issue price. The preferred shares are not redeemable.