Inspyr Therapeutics, Inc. (OTCPK:NSPX) announced that it has entered into for private placement of senior convertible debentures for gross proceeds of $600,000 on June 18, 2021. The company has issued debentures for $500,000 in cash to certain existing accredited institutional investors of the company and $100,000 for the cancellation of outstanding debt. The debentures are issued at par value. The debentures are non-interest bearing, have a maturity date of June 18, 2022 and are convertible into shares of common shares at a conversion price of lesser of $0.33 per share and 85% of the lesser of the volume weighted average price on the trading day immediately preceding a conversion date and the volume weighted average price on a conversion date. The company has the option to redeem some or all of the debentures for cash upon notice of 20 trading days provided certain conditions are met by the company as more fully described in the debentures. The company has raised the amount pursuant to exemption provided under Regulation D from 2 investors.