Xenonics Holdings, Inc. (OTCPK:XNNH) announced a private placement of secured notes with two lenders for gross proceeds of $200,000 on December 10, 2013. The loan which is secured by secured notes will bear interest at a rate of 18% per annum and are repayable in full on January 31, 2014. The maturity date of the loans will be extended to October 15, 2014 if the company and the lenders agree in writing by January 31, 2014 as to a prepayment schedule based on the company's cash flow and if the company closes a debt financing on specified terms of at least $200,000 by January 31, 2014.

On December 10, 2013, Xenonics Holdings, Inc. closed the transaction.