Omni Bio Pharmaceutical, Inc. (OTCBB:OMBP) announced that it has entered into a subscription agreement for a private placement of 6,160,000 common shares at $0.25 per share for gross proceeds of $1,540,000 on May 31, 2013. The round included participation from 12 investors. Existing investor BOCO Investments, LLC which invested $1,000,000 in the round. F. Steven Mooney and Gayle S. Mooney invested $150,000. The company has received net proceeds of $1,369,000 after deducting offering expenses, including commissions and expenses paid to the placement agent, legal and accounting fees. Vicki Barone and Steven Bathgate of GVC Capital LLC served as placement agents to the company and have received commission of $154,000 and 616,000 warrants exercisable at $0.25 per share. These warrants will expire on June 30, 2018 and carry a cashless exercise provision. The company issued securities pursuant to exemption provided under Regulation D. The company expected to issue 24,000,000 common shares for gross proceeds of $6,000,000. The transaction was expected to close in multiple closings on or before June 30, 2013. The minimum amount accepted from any outside investor is $50,000 GVC Capital LLC was expected to receive $480,000 and warrants to purchase common shares of the company as sales commission.

On May 31, 2013, Omni Bio Pharmaceutical, Inc. closed the transaction.