Presbia PLC entered into a purchase agreement for a private placement of 100 series 1 redeemable preferred shares at a price of $1,000 per share for gross proceeds of $100,000 on April 12, 2018. The transaction included participation from Richard Ressler; director. The preferred shares accrue a dividend at the rate of 10% per annum during the first 18 months, 20% for months 19 through 24 and 30% from month 25 until such preferred shares are redeemed, payable in preferred shares on a quarterly basis. The shares are redeemable upon a liquidation event. Upon closing, the company also issued warrants to purchase 1,953,125 ordinary shares at fixed exercise price of $2.56 per share for five years from the issuance date.