QT Medical, Inc. announced that it will issue 6,594,737 series B preferred stock at an issue price of $1.9 per share for gross proceeds of $12,530,000.30 on January 6, 2023. The shares will be convertible into common shares at a fixed conversion price of $1.9 per share. The shares are issued at a par value of $0.0001 per share.

The round will be raised at a post-money valuation of $21,186,400.