Gyrotron Technology, Inc. (OTCPK:GYTI) announced a private placement of 2,860 17% convertible redeemable series A3 preferred stock at a price of $43.75 per share for gross proceeds of $125,125 on March 28, 2017. The transaction included participation from unaffiliated accredited investor. The shares were sold in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended, under Section 4(2) thereof. The shares carry a coupon of 17% and will be convertible shares into common stock at a conversion price of $0.4375 per common stock, in a conversion ratio of 100 shares of common stock for each share of series A3 preferred stock.