MicroAlgo (MLGO) has released an update.
MicroAlgo Inc. has announced the sale of $30 million in unsecured convertible promissory notes due 2025, which can be converted into ordinary shares, with legal advice provided by Cayman Islands counsel. This move, part of a registration statement initially filed with the SEC in December 2023, aims to bolster the company’s capital through strategic agreements with purchasers. Shareholders and potential investors are assured that the shares, upon issue, will be fully paid and non-assessable as per Cayman Islands law.
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