Kronos Advanced Technologies Inc. announced a private placement of minimum of 20,000 simple agreement for future equity at a price of $1 per simple agreement for future equity for gross proceeds of $20,000 and maximum of 1,24,000 simple agreement for future equity at a price of $1 per simple agreement for future equity for gross proceeds of $124,000 on January 3, 2023. The simple agreement for future equity will convert into preferred stock of the company. The company will raise the funding through crowd funding platform TruCrowd.

As part of the transaction, TruCrowd will charge a fee equal to 8% of the gross proceeds, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the company in connection with the transaction. The company will issue securities pursuant to exemption provided under Regulation CF. The securities to be issued will be subject to transfer restrictions for a period of 12 months.

The company will accept over-subscriptions. The transaction is expected to close by February 28, 2023.