Metro One Telecommunications, Inc. (OTCPK:WOWI) announced a private placement of puttable simple agreements for future equity for gross proceeds of $3.5 million on March 30, 2021. The transaction will include participation from institutional investors and family offices. The SAFEs are to convert into common stock of the company following the conversion of all outstanding series A convertible preferred stock into common stock of the company in a transaction. The transaction is subject to board approval and shareholder approval.