HemaCare Corporation (OTCPK:HEMA) announced that it has entered into an agreement for a private placement of 1,453,488 shares at $3.44 per share for gross proceeds of $4,999,998.72 on January 6, 2017. The transaction will include participation from new investor, OBF Investments, LLP. The transaction is expected to close in three tranches with the first tranche for $2,500,000, a second tranche for $1,250,000 will occur, at the option of the investor, on or before December 31, 2017, and a third closing for $1,250,000 will occur, at the option of the investor on or before December 31, 2018. On the same date, the company announced that it has issued 727,572 shares as part of the first tranche for proceeds of $2,502,847.68.