MicroCloud Hologram Secures $18M Via Convertible Notes
Ticker: HOLOW · Form: 6-K · Filed: Apr 23, 2024 · CIK: 1841209
Sentiment: neutral
Topics: financing, debt-issuance, convertible-notes
TL;DR
MicroCloud Hologram just raised $18M in convertible notes, watch for dilution!
AI Summary
On April 22, 2024, MicroCloud Hologram Inc. entered into Convertible Note Purchase Agreements, issuing unsecured convertible promissory notes totaling $18,000,000 to certain investors. This filing is a report of foreign private issuer for the month of April 2024.
Why It Matters
The company has raised significant capital through convertible notes, which could impact its financial structure and future equity dilution.
Risk Assessment
Risk Level: medium — Issuing convertible notes can lead to future equity dilution, impacting existing shareholders.
Key Numbers
- $18.0M — Convertible Notes Issued (Represents capital raised through new debt instruments.)
Key Players & Entities
- MicroCloud Hologram Inc. (company) — Registrant
- April 22, 2024 (date) — Date of Convertible Note Purchase Agreements
- $18,000,000 (dollar_amount) — Aggregate principal amount of convertible notes
FAQ
What are the terms of the convertible notes issued by MicroCloud Hologram Inc.?
The filing states that the company entered into Convertible Note Purchase Agreements on April 22, 2024, and issued unsecured convertible promissory notes with an aggregate original principal amount of $18,000,000.
Who are the investors in these convertible notes?
The filing refers to them as 'certain investors' but does not name them specifically.
What is the purpose of the $18,000,000 raised?
The filing does not specify the intended use of the funds raised through the convertible notes.
What is the maturity date or interest rate of these convertible notes?
The provided excerpt does not contain details on the maturity date or interest rate of the convertible notes.
Is this a Form 20-F or Form 40-F filing?
The filing is a Form 6-K, and the company indicates it files annual reports under Form 20-F.
Filing Stats: 649 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-04-23 09:21:38
Key Financial Figures
- $18,000,000 — iginal principal amount of each Note is $18,000,000 (the “Notes”). The Notes w
- $1,440,000 — e carries an original issue discount of $1,440,000. The Company bore the costs and other t
Filing Documents
- microcloud_6k.htm (6-K) — 15KB
- microcloud_ex99-1.htm (EX-99.1) — 62KB
- microcloud_ex99-2.htm (EX-99.2) — 31KB
- microcloud_ex5-1.htm (EX-5.1) — 32KB
- ex5-1_001.jpg (GRAPHIC) — 42KB
- ex5-1_002.jpg (GRAPHIC) — 135KB
- ex5-1_003.jpg (GRAPHIC) — 41KB
- 0001829126-24-002701.txt ( ) — 438KB
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. MicroCloud Hologram Inc. By: /s/ Guohui Kang Name: Guohui Kang Title: Chief Executive Officer Date: April 23, 2024 2 EXHIBIT INDEX Exhibit No. Description 99.1 Form of Convertible Note Purchase Agreement 99.2 Form of Convertible Promissory Note 5.1 Opinion of Maples & Calder (Hong Kong) LLP 3