GitLab Inc. announced that it will issue 2,791,352 series C preferred shares at a price of $7.165 per share for the gross proceeds of $20,000,037.08 on September 22, 2017. The shares carry non-cumulative, and participating fixed dividend rate of 8% per share. The shares are non-redeemable. The shares will be convertible into common shares at a fixed conversion price of $7.165 per share.