Solbright Group, Inc. (OTCPK:SBRT) announced that it has entered into a purchase agreement for a private placement of 10% senior secured collateralized convertible promissory note for gross proceeds of $2,500,000 with AIP Global Macro Fund L.P.; a fund managed by AIP Asset Management Inc. on October 31, 2018. The note will be issued at par. The note bears an interest rate of 10% and will mature on the one-year anniversary of the date of issuance. The note is convertible into shares of the company at the fixed conversion rate of $1.50 per share. The securities are subject to a hold period of 60 days. The securities will be issued under Section 4(a)(2) and/or Rule 506 of Regulation D. The company paid $238,384 as issue expenses in the transaction.