Glydways, Inc. announced that it will raise $60,940,722 in a round of funding on August 10, 2023. The company will issue 3,688,144 series B-1 preferred shares at an issue price of $7.1174 per share, 3,886,390 series B-2 preferred shares at an issue price of $1.7794 per share, 3,047,761 series B-3 preferred shares at an issue price of $3.5587 per share, 1,461,576 series B-4 preferred shares at an issue price of $3.0249 per share, 368,321 series B-5 preferred shares at an issue price of $2.4911 per share, 1,314,447 series B-6 preferred shares at an issue price of $5.6939 per share and 576,930 series B-X preferred shares at an issue price of $7.1174 per share in the transaction. The preferred shares are issued at a par value of $0.0001 per share.

The preferred shares are non-redeemable. The preferred shares carry non-cumulative fixed dividend rate of 8% per annum and will be convertible in common shares at a fixed conversion price of $7.1174, $1.7794, $3.5587, $3.0249, $2.4911, $5.6939, and $7.1174 per share respectively. The company will receive $56,840,250 in securities pursuant to exemption provided under Regulation D.