Sealonix, Inc. announced that it will issue 3,879,020 series A preferred stock at a price of $5.174 per share for gross proceeds of $20,070,049.48, and 692,041 series A-1 preferred stock at a price of $1.445 per share for gross proceeds of $999,999.245, for aggregate gross proceeds of $21,070,048.725 on May 10, 2023. The shares have a par value of $0.0001 per share. The shares carry cumulative fixed dividend rate of 8% per share per annum.

The series A shares, and series A-1 shares will be convertible into common shares at a fixed conversion price of $5.174, and $1.445 per share respectively. The company will receive $20,050,000 pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $20,000.