MicroCloud Hologram Inc. Raises $28M via Convertible Notes
Ticker: HOLOW · Form: 6-K · Filed: May 22, 2024 · CIK: 1841209
| Field | Detail |
|---|---|
| Company | Microcloud Hologram INC. (HOLOW) |
| Form Type | 6-K |
| Filed Date | May 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $28,000,000, $2,240,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, debt-issuance, convertible-notes
TL;DR
MicroCloud Hologram just sold $28M in convertible debt, raising cash.
AI Summary
On May 22, 2024, MicroCloud Hologram Inc. entered into Convertible Note Purchase Agreements with certain investors, issuing unsecured convertible promissory notes totaling $28,000,000. This action is part of the company's ongoing financing activities.
Why It Matters
The issuance of convertible notes provides MicroCloud Hologram with capital, which can be used for operational expansion or strategic initiatives, potentially impacting its growth trajectory.
Risk Assessment
Risk Level: medium — Issuing convertible debt can dilute existing shareholders if converted and indicates the company may be seeking capital through debt rather than equity or operational cash flow.
Key Numbers
- $28.0M — Convertible Notes Issued (Represents new capital raised by the company through debt financing.)
Key Players & Entities
- MicroCloud Hologram Inc. (company) — Registrant
- May 22, 2024 (date) — Date of Convertible Note Purchase Agreements
- $28,000,000 (dollar_amount) — Aggregate original principal amount of convertible notes
FAQ
What is the interest rate on the convertible notes?
The filing does not specify the interest rate on the convertible notes.
What is the conversion price or ratio for these notes?
The filing does not detail the conversion price or ratio for the unsecured convertible promissory notes.
What is the maturity date of these convertible notes?
The maturity date for the convertible notes is not disclosed in this filing.
Are there any covenants or restrictions associated with these notes?
Specific covenants or restrictions related to the convertible notes are not detailed in this report.
What is the intended use of the $28,000,000 raised?
The filing does not specify the intended use of the proceeds from the convertible note issuance.
Filing Stats: 649 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-05-22 06:00:24
Key Financial Figures
- $28,000,000 — iginal principal amount of each Note is $28,000,000 (the “Notes”). The Notes w
- $2,240,000 — e carries an original issue discount of $2,240,000. The Company bore the costs and other t
Filing Documents
- microcloud_6k.htm (6-K) — 15KB
- microcloud_ex5-1.htm (EX-5.1) — 32KB
- microcloud_ex99-1.htm (EX-99.1) — 62KB
- microcloud_ex99-2.htm (EX-99.2) — 30KB
- ex5-1_001.jpg (GRAPHIC) — 42KB
- ex5-1_002.jpg (GRAPHIC) — 135KB
- ex5-1_003.jpg (GRAPHIC) — 41KB
- 0001829126-24-003626.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: May 22, 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