MicroCloud Hologram Inc. Issues $28M in Convertible Notes
Ticker: HOLOW · Form: 6-K · Filed: Jan 6, 2025 · CIK: 1841209
Sentiment: neutral
Topics: debt-financing, convertible-notes, funding
TL;DR
MicroCloud Hologram just dropped $28M in convertible notes, watch for dilution!
AI Summary
On January 1, 2025, MicroCloud Hologram Inc. entered into Convertible Note Purchase Agreements, issuing unsecured convertible promissory notes totaling $28,000,000 to certain investors. These notes were officially issued on January 6, 2025, and are being offered to investors.
Why It Matters
This issuance of convertible debt could dilute existing shareholders if converted to equity, but also provides the company with capital for operations or growth.
Risk Assessment
Risk Level: medium — Issuing convertible debt can lead to future dilution for existing shareholders if the notes are converted into stock.
Key Numbers
- $28.0M — Convertible Notes Issued (Represents new debt financing for the company.)
Key Players & Entities
- MicroCloud Hologram Inc. (company) — Issuer of convertible notes
- $28,000,000 (dollar_amount) — Aggregate principal amount of convertible notes issued
- January 1, 2025 (date) — Date Convertible Note Purchase Agreements were entered into
- January 6, 2025 (date) — Date convertible notes were issued
FAQ
What are the terms of the convertible notes?
The filing states that the company issued unsecured convertible promissory notes with an aggregate original principal amount of $28,000,000. Specific terms like interest rate, maturity date, and conversion price are not detailed in this excerpt.
Who are the investors purchasing these notes?
The filing refers to 'certain investors' but does not name them specifically in this excerpt.
What is the purpose of issuing these convertible notes?
The filing does not explicitly state the purpose for issuing the notes, but such financing is typically used for operations, expansion, or other corporate initiatives.
When were the Convertible Note Purchase Agreements entered into?
The Convertible Note Purchase Agreements were entered into on January 1, 2025.
What is the company's principal executive office address?
The company's principal executive offices are located at Room 302, Building A, Zhong Ke Na Neng Building, Yue Xing Sixth Road, Nanshan District, Shenzhen, People's Republic of China.
Filing Stats: 646 words · 3 min read · ~2 pages · Grade level 12.4 · Accepted 2025-01-06 16:30:09
Key Financial Figures
- $28,000,000 — aggregate original principal amount of $28,000,000 (the “Notes”) on January 6,
- $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) — 100KB
- microcloud_ex99-1.htm (EX-99.1) — 59KB
- microcloud_ex99-2.htm (EX-99.2) — 30KB
- ex5-1_001.jpg (GRAPHIC) — 3KB
- 0001829126-25-000066.txt ( ) — 209KB
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: January 6, 2025 2 EXHIBIT INDEX Exhibit No. Description 5.1 Opinion Ogier 99.1 Form of Convertible Note Purchase Agreement 99.2 Form of Convertible Promissory Note 3