Xenonics Holdings, Inc. (OTCPK:XNNH) announced a private placement of promissory notes and 450,000 warrants for gross proceeds of $450,000 on January 22, 2013. The company will issue notes for the principal amount of $100,000, $100,000, $200,000, and $50,000. The warrants will be exercised for a common share of the company at an exercisable price of $0.14 per share till January 21, 2018. The notes will carry an interest rate of 13% per annum, payable quarterly on June 15, 2013 and September 15, 2013. The notes will be due and payable on October 31, 2013.

On January 22, 2013, Xenonics Holdings, Inc. closed the transaction.