MicroCloud Hologram Inc. has entered into Convertible Note Purchase Agreements with investors to issue Unsecured Convertible Promissory Notes totaling $28 million. The notes, with a 360-day term, carry an aggregate original issue discount of $2.24 million.Investors can convert the notes into ordinary shares at 70% of the lowest 60-day closing price, subject to a 9.99% ownership limitation. The company retains the right to prepay the notes. Upon default, a 10% per annum interest rate applies. The offering is registered under a shelf registration statement.Proceeds will be used for working capital and general corporate purposes. The deal is expected to close by July 31, 2024, with MicroCloud filing a prospectus supplement for the registration of conversion shares.

MicroCloud Hologram Inc. has entered into Convertible Note Purchase Agreements with investors to issue Unsecured Convertible Promissory Notes totaling $28 million. The notes, with a 360-day term, carry an aggregate original issue discount of $2.24 million.Investors can convert the notes into ordinary shares at 70% of the lowest 60-day closing price, subject to a 9.99% ownership limitation. The company retains the right to prepay the notes. Upon default, a 10% per annum interest rate applies. The offering is registered under a shelf registration statement.Proceeds will be used for working capital and general corporate purposes. The deal is expected to close by July 31, 2024, with MicroCloud filing a prospectus supplement for the registration of conversion shares.