MicroCloud Hologram Inc. has entered into agreements to issue $28 million in Unsecured Convertible Promissory Notes to certain investors in a registered direct offering. The Notes will have a 360-day term and carry an aggregate original issue discount of $2.24 million.The Notes are convertible into ordinary shares at a price equal to 70% of the lowest closing price in the 60 trading days preceding conversion, subject to a 9.99% beneficial ownership limitation. The company can prepay the Notes at any time. Proceeds will be used for working capital and general corporate purposes.The offering is being made pursuant to an effective shelf registration statement. MicroCloud Hologram will file a prospectus supplement relating to the offering with the SEC. The transaction is expected to close by July 31, 2024.

MicroCloud Hologram Inc. has entered into agreements to issue $28 million in Unsecured Convertible Promissory Notes to certain investors in a registered direct offering. The Notes will have a 360-day term and carry an aggregate original issue discount of $2.24 million.The Notes are convertible into ordinary shares at a price equal to 70% of the lowest closing price in the 60 trading days preceding conversion, subject to a 9.99% beneficial ownership limitation. The company can prepay the Notes at any time. Proceeds will be used for working capital and general corporate purposes.The offering is being made pursuant to an effective shelf registration statement. MicroCloud Hologram will file a prospectus supplement relating to the offering with the SEC. The transaction is expected to close by July 31, 2024.