Nyxio Technologies Corporation (OTCPK: NYXO) announced an equity line of 500 series A non-convertible preferred shares at a price of $10,000 per share with Socius CG II, Ltd., managed by Socius Capital Group, for gross proceeds of $5,000,000 on February 21, 2012. The preferred stock will accrue a 10% dividend per annum from the date of issuance. The company will raise the funds over a period of two years. The company will also issue warrants to purchase up to 11,146,497 shares at an exercise price of $0.157 per share in the transaction. The company is obligated to pay the investor a commitment fee for purchase of the shares. The number of commitment shares payable will be determined by dividing $250,000 by 85% of the volume weighted average price of the stock for the five trading day period immediately preceding the date on which the commitment fee is paid, if paid in shares of common stock. Alternatively, the company may pay $250,000 in cash. Thomas Rose, Esq of Sichenzia Ross Friedman Ference LLP will serve as legal advisor to the company. Peter H. Lieberman of Greenberg Traurig, LLP will serve as legal advisor to the investor. Under the purchase agreement, in connection with the delivery of a tranche notice, the investor is obligated, pursuant to the automatic vesting and automatic exercise of the additional investment right, to purchase a number of shares of our common stock equal in dollar amount to 100% of the amount of such tranche of series A preferred shares at a per share price equal to an amount per share equal to the closing bid price of a share on the most recently completed trading date prior to the time that the tranche notice was delivered or deemed delivered by the company to the investor. Upon automatic exercise of the additional investment right, the investor must pay for the additional investment shares by delivering a full-recourse secured promissory note. Any such promissory note will bear interest at 2.% per year calculated on a simple interest basis and be secured by securities owned by the investor with a fair market value equal to the principal amount of the promissory note. The company may pay 40,000 non-refundable and non-accountable document preparation and negotiation fee payable to Greenberg Traurig in accordance with irrevocable written instructions delivered by the investor to the company, as to which the amounts previously paid by the company shall be applied, and the $5,000 non-refundable administrative fee payable to counsel for Investor at each Tranche closing after the first tranche closing.