Xiao-I Corp Sells $3.26M in Convertible Notes
Ticker: AIXI · Form: 6-K · Filed: Jun 18, 2024 · CIK: 1935172
Sentiment: neutral
Topics: financing, debt-issuance, convertible-notes
TL;DR
Xiao-I Corp just sold $3.26M in convertible notes to an institutional investor.
AI Summary
On June 17, 2024, Xiao-I Corporation entered into a securities purchase agreement with an institutional investor to issue and sell $3,260,869.57 in senior convertible notes. This follows a previous disclosure on June 17, 2024, regarding the same agreement.
Why It Matters
This issuance of convertible notes could dilute existing shareholders' equity if converted, impacting the stock price.
Risk Assessment
Risk Level: medium — The issuance of convertible notes can lead to dilution for existing shareholders upon conversion.
Key Numbers
- $3.26M — Convertible Notes (Principal amount of senior convertible notes issued.)
Key Players & Entities
- Xiao-I Corporation (company) — The company issuing convertible notes.
- $3,260,869.57 (dollar_amount) — Aggregate principal amount of senior convertible notes to be sold.
- June 17, 2024 (date) — Date of the securities purchase agreement.
- institutional investor (company) — The buyer of the convertible notes.
FAQ
What is the interest rate on the senior convertible notes?
The filing does not specify the interest rate on the senior convertible notes.
What is the conversion price or ratio for these notes?
The filing does not provide details on the conversion price or ratio for the senior convertible notes.
What is the maturity date of the senior convertible notes?
The maturity date of the senior convertible notes is not disclosed in this filing.
What are the specific terms of the securities purchase agreement?
The filing mentions a securities purchase agreement but does not detail its specific terms beyond the aggregate principal amount of notes.
What will Xiao-I Corporation use the proceeds from the note issuance for?
The filing does not state the intended use of the proceeds from the issuance of the senior convertible notes.
Filing Stats: 443 words · 2 min read · ~1 pages · Grade level 12.1 · Accepted 2024-06-18 07:00:06
Key Financial Figures
- $3,260,869.57 — d sell an aggregate principal amount of $3,260,869.57 senior convertible notes (the “No
- $2,994,945 — Company closed the offering and raised $2,994,945 in gross proceeds therefrom. The Notes,
Filing Documents
- ea0207998-6k_xiao.htm (6-K) — 15KB
- ea020799801ex5-1_xiao.htm (EX-5.1) — 66KB
- ea020799801ex5-2_xiao.htm (EX-5.2) — 38KB
- ea020799801ex5-3_xiao.htm (EX-5.3) — 118KB
- ea020799801ex99-1_xiao.htm (EX-99.1) — 9KB
- ex5-1_001.jpg (GRAPHIC) — 13KB
- ex5-1_002.jpg (GRAPHIC) — 52KB
- ex5-2_001.jpg (GRAPHIC) — 3KB
- ex5-2_002.jpg (GRAPHIC) — 3KB
- ex5-3_001.jpg (GRAPHIC) — 8KB
- ex5-3_002.jpg (GRAPHIC) — 205KB
- ex5-3_003.jpg (GRAPHIC) — 31KB
- 0001213900-24-053514.txt ( ) — 682KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: June 18, 2024 Xiao-I Corporation By: /s/ Hui Yuan Name: Hui Yuan Title: Chief Executive Officer 3