Cyteir Therapeutics, Inc. announced that it has entered into series B preferred stock purchase agreement and will issue 30,000,000 series B preferred shares at a price of $1 per share for gross proceeds of $30,000,000 on January 3, 2018. The shares are convertible and non-cumulative. The shares carry non-cumulative fixed dividend rate of 8% per annum.

The shares will be convertible into common shares at a fixed conversion price of $1 per share. The round will be raised at a post-money valuation of $39,713,926. The company will receive $29,000,000 pursuant to exemption provided under Regulation D.