Rich Pharmaceuticals issues $137,800 of 8% convertibles for $130,000

Two convertible promissory notes sold to investor LG Capital in deal

By Devika Patel

Knoxville, Tenn., May 12 – Rich Pharmaceuticals, Inc. sold $137,800 of convertible promissory notes to LG Capital Funding LLC for $130,000, or a 6% original issue discount, on May 6, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The two 8% notes of $68,900 each are due on May 5, 2016 and may be converted into common shares at a conversion price equal to 58% of the market price.

The biopharmaceutical company is based in Beverly Hills, Calif.

Issuer:	Rich Pharmaceuticals, Inc.
Issue:	Convertible promissory note
Amount:	$137,800
Maturity:	May 5, 2016
Price:	$130,000, a 6% original issue discount
Coupon:	8%
Conversion price:	58% of the market price
Warrants:	No
Investor:	LG Capital Funding LLC
Settlement date:	May 6
Stock symbol:	OTCBB: RCHA
Stock price:	$0.00 at close on May 5
Market capitalization:	$983,772

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