Owl Labs, Inc announced that it will issue 3,160,081 series C preferred stock at a price of $8.4656 per share for gross proceeds of $26,751,982 on May 3, 2022. The shares carry non-cumulative dividend rate of 6% per annum and will be convertible into common shares at a price of $8.4656 per share. The round will be raised at post money valuation of $183,844,625.

The shares are issued at $0.0001 par value per share.