Spire Corp. (OTCPK:SPIR) announced that it has entered into a security agreement a private placement of a secured promissory note for gross proceeds of $250,000 with Roger G. Little, Chairman of the company on June 22, 2015. The note carries a fixed coupon of 12% per annum and would mature on September 30, 2015.

The note may be prepaid, in whole or in part, at any time by the company without penalty.