Sibling Group Holdings, Inc. (OTCPK:SIBE) announced a private placement of a senior convertible promissory note at price of $250,000 for gross proceeds of $250,000 with new accredited investor FireRock Global Opportunities Fund L.P., a fund managed by FireRock Capital, Inc. on December 1, 2014. The company entered into a securities purchase agreement with the investor. The principal amount of note is $275,000 and will be issued after excluding 10% original issue discount, transaction costs, fees, and expenses. The note carries fixed interest rate of 8% per annum and will be converted into common shares of the company in whole or in part at any time from time to time after the issuance. The interest is payable on June 1, 2015, seven months after the date of the note. The note will mature on June 1, 2015 and is convertible at an initial conversion price per share equal to the lowest of $0.25 or 70% multiplied by the volume weighted average price of the common share for the ten trading days immediately prior to the applicable conversion date. Any amount of principal or interest on the note which is not paid when due shall bear interest at 15% per annum from the due date until the same is paid. The company will issue note pursuant to exemption provided under Regulation D. Lazarus Rothstein of Legal and Compliance, LLC will act as legal advisor to the company. Lawrence A. Rosenbloom of Ellenoff Grossman & Schole LLP will act as legal advisor to the investor.

On December 5, 2014, Sibling Group Holdings, Inc. closed the transaction.