MicroAlgo Inc., a technology firm listed as MLGO on the US stock exchange, has entered into Convertible Note Purchase Agreements with certain investors on June 5, 2024. The following day, the company issued Unsecured Convertible Promissory Notes totaling $30 million with a term of 360 days and an original issue discount of $2.4 million. These notes will convert into ordinary shares of the company based on a specified formula, subject to certain ownership limitations and adjustments. The conversion rate is pegged to 70% of the lowest market closing price of MicroAlgo's ordinary shares in the 60 trading days preceding the conversion request. In the event of default, the interest rate will increase to 10% per annum. MicroAlgo intends to use the net proceeds for working capital and general corporate purposes. The transaction documents, including the Purchase Agreements and the Notes, are attached as exhibits to the report filed with the SEC and are incorporated by reference into the company's registration statement on Form F-3.

MicroAlgo Inc., a technology firm listed as MLGO on the US stock exchange, has entered into Convertible Note Purchase Agreements with certain investors on June 5, 2024. The following day, the company issued Unsecured Convertible Promissory Notes totaling $30 million with a term of 360 days and an original issue discount of $2.4 million. These notes will convert into ordinary shares of the company based on a specified formula, subject to certain ownership limitations and adjustments. The conversion rate is pegged to 70% of the lowest market closing price of MicroAlgo's ordinary shares in the 60 trading days preceding the conversion request. In the event of default, the interest rate will increase to 10% per annum. MicroAlgo intends to use the net proceeds for working capital and general corporate purposes. The transaction documents, including the Purchase Agreements and the Notes, are attached as exhibits to the report filed with the SEC and are incorporated by reference into the company's registration statement on Form F-3.