Micron Solutions, Inc. (AMEX:MICR) announced a private placement of subordinated promissory notes and warrants for gross proceeds of $500,000 on July 5, 2019. The transaction included participation from new investor REF Securities & Co for $100,000. The notes carry a coupon of 10% per annum from the date of issuance. The company will pay interest only in cash on a quarterly basis. The notes would mature on July 5, 2022. Each warrant entitles the holder to purchase 10,000 common stock of the company at an exercise price of $2.90 per share. The company issued securities pursuant to exemption provided under Regulation D.