Lombard Medical, Inc. (NasdaqGM:EVAR) announced that it has entered into an investment agreement for a private placement of convertible debentures and common shares for gross proceeds of $15,000,000 on December 18, 2016. The transaction will include participation from new investors MicroPort NeuroTech (Shanghai) Co., Ltd. which issued 8,064,516 common shares at $0.62 per share proceeds of $5,000,000 and MicroPort NeuroTech CHINA Corp LIMITED which issued unsecured promissory note of $10,000,000. The note carries a coupon of six-month LIBOR plus 4% and is expected to mature in 5 years. The note is convertible into 11,111,111 common shares of the company at a fixed conversion price of $0.90 per share. As part of the round, two representatives of MicroPort NeuroTech (Shanghai) Co., Ltd. and MicroPort NeuroTech CHINA Corp LIMITED joined the company's board of directors. The company will have 27,950,785 shares of common stock outstanding. The company did not pay finder’s fee in the transaction.