On February 7, 2017, Palladium Capital Advisors served as a placement agent to the transaction in which pursuant to a Securities Purchase Agreement (“SPA”) entered into by Helios and Matheson Analytics Inc. (the “Company”) and an institutional investor (the “Investor”), the Company agreed to sell and issue Senior Secured Convertible Notes to the Investor in the aggregate principal amount of $5,681,818 (each, a “Note” and collectively, the “Notes”), consisting of a Note in the principal amount of $681,818 and a Note in the principal amount of $5,000,000, for consideration consisting of a secured promissory note payable by the Investor to the Company (the “Investor Note”) in the principal amount of $5,000,000 (the “Investor Note Principal”) (collectively, the “Note Financing”). The Note in the principal amount of $681,818 is referred to as the “Initial Note”. The Note in the principal amount of $5,000,000 is referred to as the “Additional Note”. The Note Financing will be consummated pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) promulgated thereunder. The Company will use the net proceeds from the sale of the Notes, if and when received pursuant to payments of the Investor Note Principal by the Investor, for general corporate purposes.
More complete information can be found in the Company’s 8K filing here: https://www.sec.gov/Archives/edgar/data/1040792/000143774917001808/hmny20170206_8k.htm