Omni Bio Pharmaceutical, Inc. (OTCBB:OMBP) announced a private placement of secured convertible promissory note for gross proceeds of $2,000,000 with new investor, Bohemian Investments, an affiliate of returning investor, BOCO Investments, LLC on April 15, 2014. The note matures and becomes due on April 24, 2015. The note bears an interest at a rate of 12% per annum, and all accrued interest will become due on the maturity date. The outstanding principle and accrued interest is convertible into shares of the company at a price of the lesser of $0.20 per share or in the event of a follow-on public offering of the company common stock effected in conjunction with the up-listing of the company's common stock to the NASDAQ Capital Market or the NYSE MKT exchange, 65% of the price per share of common stock offered to the public in the offering. The note is secured by substantially all of the assets of the company. The company also issued warrants to Bohemian Investments to purchase 1,000,000 shares of the company exercisable at a price of $0.25 per share up to a period expiring on April 15, 2019. The company expects to receive the first tranche of $500,000 on April 25, 2014. The company will reimburse the investor for all expenses incurred by the investor in connection with the negotiation and preparation of this agreement. After this tranche, the company may receive additional funding no more frequently than once every four-week period.

As of June 30, 2014, the company has received $1,000,000 in tranche funding.

On March 12, 2015, the company amended the terms of the note. The company will now receive $2,300,000 in funding.


On March 13, 2015, Omni Bio Pharmaceutical, Inc. (OTCBB:OMBP) closed the transaction. The company announced that it has received additional $300,000 in funding. The company has raised $2,300,000 in the transaction. The note will mature on December 31, 2017.