TD Holdings, Inc. (NasdaqCM:GLG) announced that it has entered into a securities purchase agreement with Streeterville Capital, LLC for private placement of an unsecured convertible promissory note for gross proceeds of $1,500,000 on January 6, 2021. The note was issued at a discount of $170,000 on principal amount of $1,670,000 and is convertible into common shares. The note bears interest of 10% per annum compounding daily and matures in 12 months of issuance. The company may prepay all or a portion of the note at any time by paying 125% of outstanding amount. The investor has the right to redeem the note at any time after three months of issuance, subject to maximum monthly redemption amount of $187,500 to be satisfied in cash or common shares at company's option after 3 months and 6 months after the purchase price date. At any point after the 6-months of purchase price date, redemptions may be satisfied in cash, unregistered stock or registered stock at company's option. If company satisfy the redemption in shares, the shares will be issued at 80% of the average of the lowest VWAP during the 15 trading days immediately preceding the redemption notice is delivered.