Immersv, Inc. announced that it will issue 23,000,000 series A preferred stock at a price of $0.550673 per share for gross proceeds of $12,665,479 on July 7, 2017. The shares are convertible, non-cumulative, participating, and non-redeemable. The shares carry non-cumulative fixed dividend rate of 5% per share per annum.

The shares will be convertible into common shares at a fixed conversion price of $0.550673 per share. The round will be raised at a post-money valuation of $12,665,479.