Rich Pharmaceuticals seals $168,500 private placement of convertibles

8% redeemable note sold to investor LG Capital Funding through deal

By Devika Patel

Knoxville, Tenn., June 15 – Rich Pharmaceuticals, Inc. sold two convertible redeemable promissory notes, each with a principal amount of $84,250, to LG Capital Funding, LLC on June 9, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal will settle in eight tranches.

The 8% debt is due June 8, 2017 and may be converted into common shares at a conversion price equal to 50% of the lowest trading price during the 20-day period preceding conversion.

The biopharmaceutical company is based in Beverly Hills, Calif.

Issuer:	Rich Pharmaceuticals, Inc.
Issue:	Convertible redeemable promissory note
Amount:	$168,500
Maturity:	June 8, 2017
Coupon:	8%
Conversion price:	50% of the lowest trading price during the 20-day period preceding conversion
Warrants:	No
Investor:	LG Capital Funding, LLC
Settlement date:	June 9
Stock symbol:	OTCBB: RCHA
Market capitalization:	$137,010

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