Rivos Inc. announced that it will issue 77,027,034 series A-3 preferred shares of par value $0.000033 per share at a price of $1.947368 per share for gross proceeds of $149,999,981.146512 on November 27, 2023. The shares are non-redeemable. The shares carry non-cumulative, and participating fixed dividend value of $0.15579 per share per annum.

The shares will be convertible into common shares at a fixed conversion price of $1.947368 per share.