Zethos, Inc. announced that it will issue 2,056,097 series C-2 preferred shares at an issue price of $11.6726 per share for gross proceeds of $23,999,997.8422 on January 20, 2023. The shares are issued at $0.00001 par value per share. The shares carry non-cumulative and participating fixed dividend value of $11.6726 per share per annum.

The preferred shares are not redeemable. The shares will be convertible into common shares at a fixed price of $11.6726 per share.