RocketFuel Blockchain, Inc. announced a private placement of 3,389,831 units at an issue price of $0.2065 per share for gross proceeds of $700,000.1015 on September 19, 2022. The company has also issued warrants to purchase 1,694,915 shares. Each unit consist of one common share and one half of share purchase warrant.

The warrants are immediately exercisable at an exercise price equal to $0.2065 per share of common stock, subject to adjustments as provided under the terms of the warrants. The warrants are exercisable for five years from the initial exercise date.