Ceibo Inc. announced that it will issue 6,611,840 series B-1 preferred shares at a price of $4.559997 per share for gross proceeds of $30,149,971 and 711,234 series B-2 preferred shares at a price of $3.647998 per share for gross proceeds of $2,594,580 for aggregate gross proceeds of $32,744,551 in funding on May 10, 2023. The shares are of par value of $0.0001 per share. The shares are convertible into common shares at a fixed conversion price equal to their respective issue prices.