share_log

MicroAlgo | SC 13D/A: Statement of acquisition of beneficial ownership by individuals (Amendment)-WiMi Hologram Cloud Inc. (“WiMi”)(61.92%),Jie Zhao(42.4%)

SEC announcement ·  Jan 10 13:00
Summary by Futu AI
On January 8, 2024, WiMi Hologram Cloud Inc., a company organized under the laws of the Cayman Islands, completed a significant transaction with MicroAlgo Inc., involving the purchase of 8 million ordinary shares at a price of $0.50 per share, totaling $4 million. This strategic move was facilitated through a Securities Purchase Agreement dated January 4, 2024, and is part of WiMi's efforts to mitigate the risk of dilution in anticipation of potential issuance and sale of securities by MicroAlgo pursuant to a Shelf Registration that became effective on December 27, 2023. The transaction has resulted in WiMi holding a majority stake in MicroAlgo, with an ownership interest of 61.92%, based on the total number of ordinary shares. Jie Zhao, representing WiMi, has been identified as the person authorized to receive notices and communications regarding this transaction. The acquisition aligns with WiMi's investment strategy and reflects its confidence in MicroAlgo's value and future prospects.
On January 8, 2024, WiMi Hologram Cloud Inc., a company organized under the laws of the Cayman Islands, completed a significant transaction with MicroAlgo Inc., involving the purchase of 8 million ordinary shares at a price of $0.50 per share, totaling $4 million. This strategic move was facilitated through a Securities Purchase Agreement dated January 4, 2024, and is part of WiMi's efforts to mitigate the risk of dilution in anticipation of potential issuance and sale of securities by MicroAlgo pursuant to a Shelf Registration that became effective on December 27, 2023. The transaction has resulted in WiMi holding a majority stake in MicroAlgo, with an ownership interest of 61.92%, based on the total number of ordinary shares. Jie Zhao, representing WiMi, has been identified as the person authorized to receive notices and communications regarding this transaction. The acquisition aligns with WiMi's investment strategy and reflects its confidence in MicroAlgo's value and future prospects.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.