Merriman Holdings, Inc. (OTCPK:MERR) announced a private placement of promissory note for gross proceeds of $125,000 on September 27, 2012. The transaction saw participation from Ronald L. Chez, the co-chairman of the company. The note will bear interest at 8% per annum and will mature in three years. The company also issued 236,250 warrants to the investor. Each warrant will entitle the holder to purchase an additional common share of the company at $0.63 per share for a period of five years from the date of issuance.

On September 27, 2012, Merriman Holdings, Inc. closed the transaction.