On March 28, 2017, Protea Biosciences Group, Inc (OTCPK:PRGB.Q) closed the transaction. The company announced that it has issued 209.54 units for gross proceeds of $2,095,400 in second tranche of the transaction. The company raised $2,727,080 in the transaction till date. The company will pay total expenses of $1,000,000 in the transaction. The company has paid expenses of $71,470 in the transaction till now. The minimum subscription from qualified investors shall be one full unit for a minimum purchase price of $10,000. The minimum offering in the transaction is for 50 units for proceeds of $500,000. The transaction will include participation from accredited investors. The units issued are restricted securities.