MicroAlgo Inc., a technology firm, has entered into Convertible Note Purchase Agreements with certain investors on August 1, 2024. The following day, the company issued Unsecured Convertible Promissory Notes totaling $30 million with a term of 360 days. These notes carry an original issue discount of $2.4 million and were issued to provide MicroAlgo with working capital and general corporate purposes. Investors have the option to convert the outstanding balance of the notes into ordinary shares of the company at a conversion price based on a formula tied to the market closing price of MicroAlgo's shares. The conversion is subject to certain ownership limitations and adjustments in case of corporate actions like share subdivisions. In the event of default, the notes will accrue interest at a rate of 10% per annum, and investors retain the right to convert their balance. The transaction details are summarized in the attached exhibits to the report filed with the SEC and incorporated by reference into the company's registration statement on Form F-3.

MicroAlgo Inc., a technology firm, has entered into Convertible Note Purchase Agreements with certain investors on August 1, 2024. The following day, the company issued Unsecured Convertible Promissory Notes totaling $30 million with a term of 360 days. These notes carry an original issue discount of $2.4 million and were issued to provide MicroAlgo with working capital and general corporate purposes. Investors have the option to convert the outstanding balance of the notes into ordinary shares of the company at a conversion price based on a formula tied to the market closing price of MicroAlgo's shares. The conversion is subject to certain ownership limitations and adjustments in case of corporate actions like share subdivisions. In the event of default, the notes will accrue interest at a rate of 10% per annum, and investors retain the right to convert their balance. The transaction details are summarized in the attached exhibits to the report filed with the SEC and incorporated by reference into the company's registration statement on Form F-3.