Vado Corp. announced that it has entered into securities purchase agreement with an accredited investor for 20,000 Series A convertible preferred shares at par value $0.001 per share at a price of $2 per share for gross proceeds of $40,000 on November 22, 2022. Each preferred share is convertible into 20 shares of the company.

The securities are subject to exemption provided under the Securities Act of 1933 under Section 4(a)(2) and Rule 506(b) promulgated thereunder.