MPOWER Financing, Public Benefit Corporation announced that it will issue 2,053,479 series A preferred shares at a price of $4.99 per share for the gross proceeds $10,246,860.21 on August 19, 2016. The company will receive $6,000,000 securities pursuant to exemption provided under Regulation D. The preferred shares will be convertible into common shares at a fixed conversion price of $4.99 per share. The shares are convertible and redeemable.

The transaction will be raised at post money valuation of $20,455,417.