Stratex Oil & Gas Holdings, Inc. (OTCPK:STTX) announced that it will receive $10,000,000 in funding on February 11, 2014. The company will issue convertible debt and option, warrant or other right to acquire another security to the investors. The minimum investment accepted from any investor is $50,000. The company will issue securities pursuant to exemption provided under Regulation D. Radnor Research and Trading Company, LLC will act as placement agent to the company. The company will pay sales commission of $1,000,000.

As of February 25, 2014, the company has received $4,192,500 in first tranche closing from 30 investors.

From February 11, 2014 through March 13, 2014, the company received $6,842,650 in funding from 53 investors. The company issued 12% series A senior secured convertible promissory notes for gross proceeds of $6,842,650 to investors in second and final tranche. The notes carry a coupon of 12% per annum and would mature on February 11, 2016. The notes are secured by a first lien on substantially all of the company's assets. Holders of the notes have the option to convert outstanding principal and interest under the notes into shares of the company's common shares at a conversion price of $0.30 per share. In connection with the sale of the notes in final tranche, the company also issued to the participants in the transaction, warrants exercisable to purchase up to an aggregate of 4,561,728 shares of common shares at an exercise price of $0.30 per share. The warrants are immediately exercisable and expire five years following the date of their issuance. The company paid placement agent fee of $382,765 and issued them a warrant exercisable for up to 1,275,900 shares of company common shares at an exercise price of $0.30.

From March 27, 2014 through April 10, 2014, the company received an additional $3,145,000 in funding. The company has received $9,987,650 in total funding from the transaction from 61 investors. As part of the second tranche, the company also issued 2,096,646 warrants. The company has paid a total of $407,765 as placement agent fees and issued warrants exercisable for up to 1,359,233 shares.

On September 30, 2014, Stratex Oil & Gas Holdings, Inc. closed the transaction. The company raised gross proceeds of $9,987,650 in the transaction.