Chanticleer Holdings, Inc. (NasdaqCM:HOTR) announced that it has entered into a subscription agreement for a private placement of 14.5 units at a price of $50,000 per unit with an accredited investor for gross proceeds of $725,000 on January 2, 2015. Each unit will consist of one 8% Convertible Promissory Note and 12,500 warrants. Each warrant entitles to purchase one common share of the company at an exercise price of $2.5 per share for a period of five years from closing. Each note carries a fixed coupon of 8% per annum, will be paid quarterly and would mature after three years. The note can be convertible into common shares during the period commencing 180 days after the issuance of the notes at an exercise price equal to the lesser of $2.00 per share and a fifteen percent discount to the average of the lowest three trading prices for its common stock during the ten trading day period ending on the last complete trading day prior to the conversion date of the note, provided however that the conversion price shall not be less than $1.00 per share. The company will issue securities pursuant to exemption provided under Regulation D.

On the same date, the company issued 7.5 units for proceeds of $375,000 in its first tranche.

On January 5, 2015, the company issued 4 units for proceeds of $200,000 in its second tranche.

On January 7, 2015, the company issued a unit for proceeds of $50,000 in its third tranche.

On January 8, 2015, Chanticleer Holdings, Inc. closed the transaction. The company issued 2 units for proceeds of $100,000 in its final tranche. The company has received a total of $725,000 in the transaction.