PositiveID Corporation (OTCPK:PSID) announced that it has entered into a securities purchase agreement with existing investor Union Capital, LLC for the private placement of one 12% convertible redeemable note due September 12, 2018 for gross proceeds of $50,000 on September 12, 2017. The note carries a principal amount of $52,000 and is issued at a discount of 3.846154%. The note may be converted by the investor at any time into shares of company’s common stock at a price equal to 62.5% of the lowest closing bid price of the common stock for the 15 prior trading days including the day upon which a notice of conversion is received by the company. The note is exchangeable for an equal aggregate principal amount of notes of different authorized denominations. The note carries a fixed interest of 12%. The note may be prepaid during the first 90 days with a prepayment penalty equal to 120% of the face amount and any accrued interest and in the following 90 days with a prepayment penalty equal to 135% of the face amount and any accrued interest. The note may not be prepaid after the 180th day. The company received net proceeds of $47,500 in the transaction. The company reimbursed the investor for expenses incurred by them in connection with the negotiation, preparation, execution, delivery and performance of the agreement. The securities were issued pursuant to exemption provided under Regulation D.