Xiao-I Corp Signs Convertible Note Agreements
Ticker: AIXI · Form: 6-K · Filed: Jan 10, 2025 · CIK: 1935172
Sentiment: neutral
Topics: financing, debt-issuance, convertible-notes
TL;DR
Xiao-I Corp is selling convertible notes to institutional investors, raising capital.
AI Summary
On January 6, 2025, Xiao-I Corporation entered into two securities purchase agreements with two institutional investors to issue and sell convertible promissory notes totaling an unspecified aggregate principal amount. The company, registered in the Cayman Islands, is based in Shanghai, China.
Why It Matters
This filing indicates Xiao-I Corp is raising capital through convertible debt, which could impact its future equity structure and financial obligations.
Risk Assessment
Risk Level: medium — The issuance of convertible notes can dilute existing shareholders and increase future debt obligations.
Key Players & Entities
- Xiao-I Corporation (company) — Registrant
- January 6, 2025 (date) — Date of Securities Purchase Agreements
- Cayman Islands (location) — Company's place of incorporation
- Shanghai, China (location) — Company's principal executive offices
FAQ
What is the aggregate principal amount of the convertible promissory notes being issued?
The filing states that two convertible promissory notes are to be issued with an aggregate principal amount, but the specific dollar amount is not detailed in the provided text.
Who are the two institutional investors purchasing the convertible notes?
The filing refers to them as 'two institutional investors' but does not disclose their specific names.
What are the terms of the convertible promissory notes?
The provided text mentions the issuance of convertible promissory notes but does not detail their specific terms, such as interest rates or conversion prices.
What is the intended use of the capital raised from the sale of these notes?
The filing does not specify the intended use of the funds raised through the sale of the convertible promissory notes.
Does Xiao-I Corporation file annual reports on Form 20-F or Form 40-F?
Xiao-I Corporation indicates it files annual reports under cover of Form 20-F.
Filing Stats: 1,440 words · 6 min read · ~5 pages · Grade level 15.4 · Accepted 2025-01-10 16:31:07
Key Financial Figures
- $4,637,840 — with the aggregate principal amount of $4,637,840 (collectively, the “Notes”)
- $4,295,000 — e initial aggregate principal amount of $4,295,000 and an additional original issue discou
- $342,840 — sue discount in the aggregate amount of $342,840 to be added to the principal amount on
- $7.201 — version price equal to the lower of (i) $7.201 (the “Fixed Price”) or (ii)
- $0.05 — ersion price will be further reduced by $0.05 per ADS to cover any receipt issuance f
- $100,000.00 — if the outstanding balance is less than $100,000.00. We may not prepay the Note if an event
Filing Documents
- ea0226978-6k_xiao1.htm (6-K) — 25KB
- ea022697802ex4-1_xiao1.htm (EX-4.1) — 64KB
- ea022697802ex5-1_xiao1.htm (EX-5.1) — 36KB
- ea022697802ex5-2_xiao1.htm (EX-5.2) — 27KB
- ea022697802ex10-1_xiao1.htm (EX-10.1) — 157KB
- ex5-2_001.jpg (GRAPHIC) — 4KB
- 0001213900-25-002677.txt ( ) — 316KB
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: January 10, 2025 Xiao-I Corporation By: /s/ Hui Yuan Name: Hui Yuan Title: Chief Executive Officer 5