Determine, Inc. (NasdaqCM:DTRM) announced that it has entered into a junior secured convertible note purchase agreement for private placement of convertible promissory notes for gross proceeds of $2,000,000 on December 27, 2016. The transaction included participation from three investors including returning investors, Milfam II, LP, a fund managed by Milfam LLC for $1,000,000 and Alliance Semiconductor Corporation (OTCPK:ALSC) for $1,000,000. The notes carry fixed interest rate of 10% per annum payable quarterly beginning December 31, 2016. The notes will mature on December 27, 2021. In the event of default of payment of interest, the company shall pay fixed interest rate of 13% per annum. The notes are convertible at a fixed conversion price of $3 per share. The company issued notes at par. The notes are guaranteed and subordinated in the right of payment. The company may prepay the notes before maturity date. The company issued securities pursuant to exemption provided under Regulation D.