MicroCloud Hologram Inc. has entered into Convertible Note Purchase Agreements with investors for up to $30 million in unsecured convertible notes. The initial closing on August 12, 2024 raised $18 million, with potential additional closings up to the $30 million maximum.The notes are convertible into ordinary shares at 70% of the lowest 90-day closing price. Investors also have an alternate conversion option at 40% of the reference price. The notes are non-interest bearing unless in default. MicroCloud can redeem the notes early at a 10% premium.The financing includes registration rights for the conversion shares and a 360-day lock-up on shares from alternate conversions. This transaction strengthens MicroCloud's capital position as it pursues growth in the holographic technology sector.

MicroCloud Hologram Inc. has entered into Convertible Note Purchase Agreements with investors for up to $30 million in unsecured convertible notes. The initial closing on August 12, 2024 raised $18 million, with potential additional closings up to the $30 million maximum.The notes are convertible into ordinary shares at 70% of the lowest 90-day closing price. Investors also have an alternate conversion option at 40% of the reference price. The notes are non-interest bearing unless in default. MicroCloud can redeem the notes early at a 10% premium.The financing includes registration rights for the conversion shares and a 360-day lock-up on shares from alternate conversions. This transaction strengthens MicroCloud's capital position as it pursues growth in the holographic technology sector.