February 19, 2010 (FinancialWire) — NXT Nutritionals Holdings, Inc. (OTCBB: NXTH), the Massachusetts-based developer and marketer of SUSTA sweetener, has secured $2.35 million in financing through a private placement offering.

The company plans to use the proceeds from the offering for general corporate purposes and to fund further development and marketing of its SUSTA products.

In connection with the offering, NXT Nutritionals has issued 0% original issue discount senior secured convertible notes that are convertible into common shares of the company and five-year Series C warrants that are exercisable for common shares of the company.

The principal amount of each note is 115% of the subscription proceeds received.

NXT Nutritionals Holdings is a developer and marketer of a proprietary sweetener sold under the brand name SUSTA and other food and beverage products.

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