Merriman Holdings, Inc. (OTCPK:MERR) announced that it has entered into a definitive agreement for private placement of 666,667 series F preferred shares at a price of $0.30 per share for gross proceeds of $200,000.1 on October 30, 2015. The transaction included participation from Ronald L. Chez, Co-Chairman of the company. The preferred shares will bear a fixed cumulative dividend of 4.5% per annum.

The preferred shares are convertible into common shares of the company at a price of 0.30 per share. The preferred shares issued have a par value of %0.0001 per share.