Shapes Corp. announced that it will receive $ 8,851,615.2385 in funding on June 8, 2023. The company will raise $8,699,996 pursuant to the exemption provided under Regulation D. The company will issue 3,415,531 series seed-1 preferred shares at a price of $1.4639 per share, 1,233,394 series seed-2 preferred shares at a price of $1.3175 per share, 2,457,696 series seed-3 preferred shares at a price of $0.7026 per share, and 2,467,155 series seed-4 preferred shares at a price of $0.2026 per share in the transaction.

The shares are convertible and non-cumulative. The shares carry a non-cumulative dividend rate of 8% per annum. The preferred shares will be convertible to common shares at their original issue price.

The preferred shares have a par value of $0.00001 per share. The round will be raised at a post-money valuation of $14,146,802.