Element Biosciences, Inc. announced that it will receive $282,671,912.3793 in funding on June 28, 2024. The company will issue 36,039,921 series D preferred shares at a price of $7.8433 per share in the transaction. The shares are convertible, non-redeemable, and non-cumulative.

The shares carry a non-cumulative dividend rate of $0.627464 per annum. The preferred shares will be convertible into common shares at a fixed price of their respective original issue price. The preferred shares have a par value of $0.0001 per share.