On September 21, 2017, root9B Holdings, Inc. (NasdaqCM:RTNB) closed the transaction. The company has issued notes for gross proceeds of $400,000 in its ninth tranche closing to existing secured debt holders. The company has received $10,271,000 in funding in the transaction. The company also issued warrants to represent 50% of the warrants coverage. The transaction is subject to the approval from its senior secured convertible promissory note holders.