Abpro Corporation announced that it will issue 4,444,444 series F preferred shares at issue price of $18 per share for the gross proceeds $79,999,992 in funding on March 30, 2022. The shares are convertible and participating. The shares will be convertible in common shares at a fixed conversion price of $18 per share.

The round will be raised at post money valuation of $377,877,348. The company will issue securities pursuant to exemption provided under Regulation D.