MicroCloud Hologram Secures $28M Via Convertible Notes
Ticker: HOLOW · Form: 6-K · Filed: Jun 20, 2024 · CIK: 1841209
Sentiment: neutral
Topics: financing, debt, convertible-notes
TL;DR
MicroCloud Hologram just raised $28M in convertible notes, potentially fueling growth.
AI Summary
On June 18, 2024, MicroCloud Hologram Inc. entered into Convertible Note Purchase Agreements with certain investors to issue unsecured convertible promissory notes totaling $28,000,000. This move aims to raise capital for the company's operations and growth initiatives.
Why It Matters
This financing could provide MicroCloud Hologram with the necessary capital to fund its business operations and pursue strategic growth opportunities.
Risk Assessment
Risk Level: medium — Issuing convertible notes can dilute existing shareholder value if converted into equity, and the company's ability to repay or refinance the debt is a key consideration.
Key Numbers
- $28.0M — Convertible Notes (Amount raised through new financing agreements)
Key Players & Entities
- MicroCloud Hologram Inc. (company) — Registrant
- June 18, 2024 (date) — Date of Convertible Note Purchase Agreements
- $28,000,000 (dollar_amount) — Aggregate principal amount of convertible notes
FAQ
What is the purpose of the $28,000,000 in convertible notes?
The filing states the notes are to be issued to investors, implying a capital raise for the company, though specific use of proceeds is not detailed in this excerpt.
When were the Convertible Note Purchase Agreements entered into?
The Convertible Note Purchase Agreements were entered into on June 18, 2024.
What is the nature of the convertible notes being issued?
The notes are described as Unsecured Convertible Promissory Notes.
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 principal amount of the convertible notes?
The aggregate original principal amount of the Notes is $28,000,000.
Filing Stats: 651 words · 3 min read · ~2 pages · Grade level 12.3 · Accepted 2024-06-20 06:00:15
Key Financial Figures
- $28,000,000 — aggregate original principal amount of $28,000,000 (the “Notes”). The Notes a
- $2,240,000 — an aggregate 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) — 28KB
- microcloud_ex99-1.htm (EX-99.1) — 59KB
- microcloud_ex99-2.htm (EX-99.2) — 30KB
- ex5-1_001.jpg (GRAPHIC) — 5KB
- ex5-1_002.jpg (GRAPHIC) — 62KB
- ex5-1_003.jpg (GRAPHIC) — 10KB
- 0001829126-24-004315.txt ( ) — 240KB
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: June 20, 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