Xiao-I Corporation has successfully closed a senior convertible notes offering on June 17, 2024, raising $2.99M in gross proceeds. The offering includes $3.26M in principal amount of senior convertible notes with an 8% Original Issue Discount, convertible into ADSs, along with an additional 1,000,002 ADSs representing 333,334 ordinary shares sold at par to an institutional investor.After deducting placement agent's commission and other offering expenses, the company secured net proceeds of approximately $2.5M, which will be allocated for working capital and general corporate purposes. FT Global Capital Inc. served as the exclusive placement agent for the transaction.The securities were offered through a prospectus supplement under the company's effective shelf registration statement on Form F-3. Each ADS represents one-third of an ordinary share, and the offering was conducted in compliance with SEC regulations.

Xiao-I Corporation has successfully closed a senior convertible notes offering on June 17, 2024, raising $2.99M in gross proceeds. The offering includes $3.26M in principal amount of senior convertible notes with an 8% Original Issue Discount, convertible into ADSs, along with an additional 1,000,002 ADSs representing 333,334 ordinary shares sold at par to an institutional investor.After deducting placement agent's commission and other offering expenses, the company secured net proceeds of approximately $2.5M, which will be allocated for working capital and general corporate purposes. FT Global Capital Inc. served as the exclusive placement agent for the transaction.The securities were offered through a prospectus supplement under the company's effective shelf registration statement on Form F-3. Each ADS represents one-third of an ordinary share, and the offering was conducted in compliance with SEC regulations.