Auradine, Inc. announced that it will issue 9,303,038 series B preferred shares of par value $0.00001 per share at an issue price of $6.4495 per share for gross proceeds of $59,999,943.581 on March 8, 2024. The shares are non-redeemable. The shares carry non-cumulative fixed dividend value of 8% per annum per share.

The shares will be convertible in common shares at a fixed conversion price of $6.4495 per share.