Protalex, Inc. (OTCPK:PRTX) announced a private placement of senior convertible notes for gross proceeds $1,425,000 on February 28, 2018. The notes accrue interest at the rate of 10% per annum and will mature on February 28, 2023. The notes are convertible at the option of the holder prior to maturity or earlier prepayment, if permissible. Upon conversion, the note holder will receive 5,000 shares of company's common stock for each $1,000 of principal or accrued interest converted. The company issued securities pursuant to exemption provided under Regulation D.