CytoDyn Inc. (OTCPK:CYDY) announced that it has entered into agreement for a private placement of convertible notes and related warrants for gross proceeds of $2,110,000 with accredited investors on January 14, 2019. The notes were issued at par, The notes bear an interest rate of 10% until fully paid and will mature on September 28, 2019. The notes are convertible into 4,220,000 common shares of the company at a fixed conversion price of $0.5 per share. The company also issued warrants to purchase 2,110,000 common shares at an exercise price of $0.3 per share for a period of five years. The company issued the securities pursuant to exemption provided under Rule 501(a) of Regulation D.