Parallel Carbon Inc. announced that it will issue 2,126,743 series seed preferred shares at an issue price $1.7515 per share for gross proceeds of $3,724,990.3645, 1,090,720 series seed-1 preferred shares at an issue price $0.18620525 per share for gross proceeds of $203,097.79028, and 1,600,000 series seed-2 preferred shares at an issue price $0.00001736 per share for gross proceeds of $27.776, for aggregate gross proceeds of $3,928,115.93078 on November 30, 2023. The preferred shares have a par value of $0.00001 per share. The preferred shares will be convertible into common shares at a fixed conversion price $1.7515, $0.18620525, and $0.00001736 per share respectively.

The company will receive $3,724,991 pursuant to exemption provided under Regulation D. The round will be raised at a post money valuation of $8,437,786.