Regen raises $575,000 through convertible promissory notes placements

One-year 10% convertibles are convertible into stock at a 65% discount

By Devika Patel

Knoxville, Tenn., March 25 – Regen BioPharma, Inc. issued $575,000 of convertible promissory notes, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

On March 3, Regen sold a $100,000 10% note due March 3, 2016. On March 3, Regen sold a $50,000 10% note due March 3, 2016. On March 3, Regen sold a $50,000 10% note due Feb. 26, 2016. On March 3, Regen sold a $50,000 10% note due March 3, 2016. On March 9, Regen sold a $50,000 10% note due March 5, 2016. On March 9, Regen sold a $25,000 10% note due March 6, 2016. On March 5, Regen sold a $100,000 10% note due March 5, 2016. On March 16, Regen sold a $50,000 10% note due March 12, 2016. On March 19, Regen sold a $100,000 10% note due March 3, 2016.

Each note is convertible into common shares at a conversion price equal to 35% of the lowest trading price of the stock during the 30 trading days preceding conversion.

Principal and interest may be prepaid in part or in full upon at least three trading days’ prior written notice to the applicable lender.

If the lender converts principal into common stock on or prior to 180 days from the issuance date, the lender will receive one share of preferred series A stock for each share of common stock received through conversion.

Proceeds will be used for general corporate purposes.

Based in La Mesa, Calif., Regen Biopharma focuses on the development of translational medicine platforms for the commercialization of stem cell therapies.

Issuer:	Regen BioPharma, Inc.
Issue:	Convertible promissory notes
Amount:	$575,000
Maturity:	March 3, 2016, Feb. 26, 2016, March 5, 2016, March 6, 2016, March 12, 2016
Coupon:	10%
Conversion price:	35% of the lowest trading price of the stock during the 30 trading days preceding conversion
Settlement date:	March 3 (for $100,000), March 3 (for $50,000), March 3 (for $50,000), March 3 (for $50,000), March 9 (for $50,000), March 9 (for $25,000), March 5 (for $100,000), March 16 (for $50,000), March 19 (for $100,000)
Stock symbol:	OTCBB: RGBP
Stock price:	$0.39 at close March 2
Market capitalization:	$9.99 million

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