Muscle Pharm Corporation (MSLPQ)

[mtc44380]

The proceeds from the Transaction will be used by the Company solely to repurchase and retire immediately at closing the following three secured promissory notes of which Ryan Drexler, the Executive Chairman of the board of directors (the “Board”) of the Company and the Chief Executive Officer of Company, is the holder:  (i) the Convertible Secured Promissory Note, dated December 7, 2015, as amended by the First Amendment to such Convertible Secured Promissory Note, dated January 14, 2017, in the original principal amount of $6,000,000, (ii) the Convertible Secured Promissory Note, dated November 8, 2016, in the original principal amount of $11,000,000, and (iii) the Secured Demand Promissory Note, dated July 27, 2017, in the original principal amount of $1,000,000  (together, the “Notes”).

The Investor will purchase $18 million of newly issued shares of common stock, par value $0.001 per share, of the Company (the “Company Common Stock”) from the Company at a price of $1.96 per share, resulting in the Investor purchasing 9,183,675 million shares of Company Common Stock.  If there is accrued interest on the Notes (as defined below), the amount of Company Common Stock that the Investor will purchase will be increased in an amount equal to such accrued interest at closing.

Looks to my like they it would pay off all the notes, and interest.
18MIL+ shares. No more notes.... No more interest on said notes....