Provision Holding, Inc. (OTCQB:PVHO) announced a private placement of 12% series A senior secured convertible promissory notes for gross proceeds of $4,000,000 on February 4, 2016. The notes carry a fixed coupon of 12% per annum. The notes are convertible into common shares of the company at a fixed conversion price of $0.10 per share.

Each note purchaser will also receive, for every $1,000 in promissory notes purchased, warrants to purchase 2,000 shares of the company's common stock at an exercise price of $0.15 per share for a period of five years after the warrant's issuance.