NeoMagic Corp. (OTCPK:NMGC) announced a private placement of 6,833,333 shares at $0.03 per share for gross proceeds of $205,000 on October 24, 2012. The transaction is led by returning investors, Bluestone Financial Ltd and Attiva Capital Partners. The round also included participation from Syed Zaidi Tomasello, company's President, Chief Executive Officer, and member of board of directors and two additional employees. The shares were issued pursuant to Regulation D. The investors were accredited investors. Each investor has been represented by its own separate legal counsel. The shares will be paid for from October 24, 2012 through October 31, 2012.

On October 24, 2012, NeoMagic Corp. closed the transaction.