NanoFlex Power Corporation (OTCPK:OPVS) announced that it has entered into a securities purchase agreement with returning investor APG Capital Holdings, LLC for a private placement of a convertible promissory note for gross proceeds of $63,000 on May 15, 2019. The note has a par value of $69,300 and has been issued at a discount of $6,300. The note bears a fixed interest rate of 12% per annum and matures on May 15, 2020. Thereafter, the conversion price per share shall be equal to 60% of the lowest trading price during the 20 prior trading days, including the day upon which a notice of conversion is received, provided, however, that if the company experiences a Depository Trust Company Chill on its shares of common stock, the conversion price shall be reduced to 50% while such Depository Trust Company Chill remains in effect. The investor may not convert the note to the extent that such conversion would result in beneficial ownership by the investor and its affiliates of more than 9.9% of the company’s issued and outstanding common stock. If the company prepays the note within 90 days of its issuance, the company must pay all of the principal at a cash redemption premium of 135%; if such prepayment is made between the 91st day and the 180th day after the issuance of the note, then such redemption premium is 150%. After the 180th day following the issuance of the note, there shall be no further right of prepayment. In the event all or substantially all of the assets or equity of the company is acquired by a third party, the investor may elect to either have the note redeemed by the company in cash at a premium of 150% of the principal amount of the note, plus accrued but unpaid interest or convert the note into shares of common stock of the company at the applicable conversion price.