6D Global Technologies, Inc. (NasdaqCM:SIXD) announced that it has entered into a stock purchase agreement for a private placement of 1,088 series A redeemable convertible preferred stock at $9,200 per share for gross proceeds of $10,009,600 with an accredited institutional investor on August 10, 2015. The preferred shares carry a fixed coupon of 8.5% per annum and would mature after seven years after the issuance date. Subject to certain upward or downward adjustments with a maximum dividend rate of 17.0% and a minimum dividend rate of 0.0% payable upon redemption, upon conversion and when declared by board of directors. The dividends may be paid in cash or shares of common stock. The number of shares to be issued shall be calculated by using if there is no triggering event, 90% of the average of the five lowest individual daily volume weighted average prices during the applicable measurement period, which may be non-consecutive, less $0.05 per share of common stock, not to exceed 100% of the lowest sales price on the last day of such measurement period, less $0.05 per share of common stock, or following any triggering event, 80% of the lowest daily volume weighted average price during any measurement period, less $0.05 per share of common stock, not to exceed 80.0% of the lowest sales price on the last day of any measurement period, less $0.05 per share of common stock.

The preferred shares are convertible into common shares of the company at a fixed conversion price of $5.25 per share. The preferred shares are issued at an original issue discount of 8%. The company will issue the securities pursuant to exemption provided under Regulation D and Regulation S.