Rokwader Inc. (OTCPK:ROKR) announced that it has entered into a securities purchase agreement for a private placement of 15,250,000 common shares at $0.40 per share with new investor Coco Partners, LLC for gross proceeds of $6,100,000 on April 28, 2015. The company will also issue 5,900,000 warrants in the transaction. The investor will acquire 86.7% stake in the company through this transaction.

The transaction will close in two tranches. The investor will invest $3,050,000 for 7,625,000 shares in the first tranche on May 1, 2015 upon satisfaction or waiver of each of the conditions of the agreement. The investor has a right to invest for additional 7,625,000 shares in the second tranche on or before June 30, 2015.

The warrants being issued will expire on April 1, 2020. The investor may purchase 5,000,000 additional common shares through exercise of warrants at an exercise price of $0.60 per share, 500,000 warrants at an exercise price of $1 per share, and 400,000 warrants at an exercise price of $1.25 per share. The transaction will involve participation from new investor Coco Partners, LLC.

The shares carry a par value of $0.001 per share. The securities will be issued pursuant to exemption provided under Regulation D.