Solid Power Inc. announced that it will issue 9,685,766 series A-1 preferred shares at a price of $1.806775 per share for gross proceeds of $17,499,999.86 on May 1, 2018. The shares are convertible, non-cumulative, non-redeemable and participating. The shares carry non-cumulative fixed dividend rate of 6% per annum.

The shares are convertible into common shares of the company at a fixed conversion price of $1.806775 per share.