MedPro Safety Products, Inc. (OTCPK:MPSP) announced a private placement of series D senior secured promissory note for gross proceeds of $4,235,000 on September 12, 2012. The transaction will see participation from existing investor, Vision Opportunity Master Fund Ltd., a fund managed by Vision Capital Advisors, LLC or its affiliates. The company will make monthly draw downs through August 2013. The note will bear interest at 10% per annum and will mature on December 31, 2013. The company will also issue up to 124,725 series D convertible preferred stock to the investor as a consideration for the transaction. The preferred shares will be convertible into common shares of the company at $3 per share. The transaction may see participation from other investor and the company may raise gross proceeds of up to $6,035,000 through August 31, 2013. The company will reimburse the investor for reasonable legal fees and expenses in connection with the transactions, not to exceed $25,000.

On the same day, the company closed the first tranche of the transaction. The company raised $727,000 and issued 23,858 preferred shares to the investor pursuant to the tranche. The securities are issued pursuant to Regulation D to one investor. The company expects to raise $662,000 on September 30, 2012, $372,000 on October 31, 2012, $309,000 on November 30, 2012, $257,000 on December 31, 2012, $361,000 on January 31, 2013, $190,000 on February 28, 2013, $183,000 on March 31, 2013, $211,000 on May 31, 2013, $238,000 on June 30, 2013, $512,000 on July 31, 2013, and $213,000 on August 31, 2013.

As of September 26, 2012, the company announced that the investor will hold 73.8% stake in the company after the exercise or conversion of derivative securities.

As of December 31, 2012, the company has received $2,442,000 in the transaction.

As of December 31, 2012, MedPro Safety Products, Inc. closed the transaction. The company raised total proceeds of $4,285,000.