Newtown Lane Marketing, Incorporated (OTCQB:NTWN) announced a private placement of one convertible promissory note with returning investor Ironbound Partners Fund LLC at $20,000 per note for gross proceeds of $20,000 on August 18, 2020. The note carries a fixed coupon of 5% per annum and will mature on August 31, 2021. The note is convertible into common shares to the company at a conversion price equal to per share price attributable to the company’s common shares in a qualified financing, or if no qualified transactions is consummated, the per share price in the fundamental transaction as determined in good faith by the board of directors of the company. The note was issued at par.