Airborne Wireless Network (OTCPK:ABWN) announced that it has entered into a securities purchase agreement with YA II PN, Ltd, a fund managed by Yorkville Advisors Global LP for private placement of convertible debentures for gross proceeds of $1,250,000 on April 9, 2018. The debenture issued at par. The debentures carry a coupon of 8% per annum and would mature on January 8, 2019. The dentures are convertible into common shares of the company at a fixed conversion price $2 per share or the amount equal to 70% of the lowest volume weighted average price at which the company’s common stock traded during the 25 days prior to the conversion date. The company also issued warrants to purchase 650,000 common shares at an exercise price of $2 per share until April 8, 2021. The company has issued securities pursuant to exemption provided under Regulation D. The company has received net proceeds of $1,030,000, after the payment of commitment fees and certain other costs of investor. The company has paid $20,000 due diligence and structuring fee. The company authorizes the investor to deduct any fees due hereunder from the gross process of the purchase of the convertible debenture.