Inventergy Global, Inc. (NasdaqCM:INVT) announced that it has entered into a securities purchase agreement with six investors for a private placement of up to 369 series D convertible preferred stock at a price of $1,000 per share for gross proceeds of $369,000 on May 13, 2016. The transaction included participation from Chief Executive Officer and each of the members of the board of directors in which they invested an aggregate of $144,000. Minimum investment accepted from any outside investor is $20,000. The series D convertible preferred stock is convertible into common shares of the company at a conversion price of $1.98 per share. The series D preferred stock contains provisions providing for an adjustment in the conversion price upon the occurrence of certain events, including stock splits, stock dividends and fundamental transactions. The company may redeem some or all of the series D preferred stock for cash as follows: on or prior to August 11, 2016, in an amount equal to 120% of the aggregate stated value then outstanding, and after August 11, 2016, in an amount equal to 135% of the aggregate stated value then outstanding. The company also issued warrants to purchase common shares equal to 85% of such Investor’s subscription amount at an exercise price of $1.87 per share for a term of five years commencing six months and one day after the closing of the transaction. 50% of the warrants vested immediately and the remainder of the warrants will vest only if an investor’s shares of series D preferred stock remain outstanding at the initial exercise date. The company has issued securities pursuant to exemption provided under Regulation D.