Ambri, Inc. announced that it will issue 131,702,117 series E preferred shares at issue price of $1.1808 per share for the gross proceeds $155,513,859.7536 in funding on August 9, 2021. The shares are convertible, non-redeemable and non-cumulative. The shares carry non-cumulative fixed dividend rate of 8% per annum. The shares will be convertible in common shares at a fixed conversion price of $1.1808 per share. The round will be raised at post money valuation of $213,485,301. The company will receive $149,411,093 pursuant to exemption provided under Regulation D. On the same date, Ambri Incorporated closed the transaction. The company has issued 121,951,220 series E preferred shares for gross proceeds of $144,000,000.576 in the transaction. The transaction was co-led by new investors Reliance New Energy Solar Limited and Paulson & Co. Inc. The transaction included participation from individual investor, Bill Gates and new investors Goehring & Rozencwajg Associates, LLC, Japan Energy Capital 1 L.P., a fund managed by Japan Energy Capital G.K., Fortistar Sustainable Solutions Corp. and other investors. The transaction includes participation from Reliance New Energy Solar Limited for 42,300,000 series E preferred shares for gross proceeds of $49,947,840. Paulson & Co. Inc. and Bill gates made strategic investment in the company. The company has received $143,761,093 in funding pursuant to Regulation D from 14 investors. The total amount sold includes the conversion of approximately $24,400,000 of outstanding convertible indebtedness.