Birchmount Network Inc. announced that it will issue 4,132,511 series seed preferred stock at a price of $0.60496 per share for gross proceeds of $2,500,003.85456, and 568,216 series seed-1 preferred stock at a price of $0.48397 per share for gross proceeds of $274,999.49752, for aggregate gross proceeds of $2,775,003.35208 on June 8, 2021. The shares carry non-cumulative fixed dividend rate of 8% per share. The shares are redeemable.

The series seed shares, and series seed-1 shares will be convertible into common shares at a fixed conversion price of $0.60496, and $0.48397 per share respectively. The round will be raised at post money valuation of $6,985,588.