MicroAlgo Inc. Issues Convertible Note to Parent WiMi Hologram Cloud Inc.
Ticker: VENAF · Form: 6-K · Filed: Jun 20, 2025 · CIK: 1800392
Sentiment: neutral
Topics: convertible-note, related-party-transaction, financing
TL;DR
MicroAlgo issued a convertible note to its parent, WiMi Hologram Cloud. Details on terms to follow.
AI Summary
On June 20, 2025, MicroAlgo Inc. entered into a Convertible Note Purchase Agreement with its parent company, WiMi Hologram Cloud Inc. As part of this agreement, MicroAlgo Inc. issued an Unsecured Convertible Promissory Note to WiMi Hologram Cloud Inc.
Why It Matters
This transaction involves a convertible note between a subsidiary and its parent company, which could impact MicroAlgo's capital structure and future equity.
Risk Assessment
Risk Level: medium — Transactions between related parties, especially involving convertible debt, can carry inherent risks and require careful scrutiny of terms and potential impacts on minority shareholders.
Key Players & Entities
- MicroAlgo Inc. (company) — Registrant and issuer of the convertible note
- WiMi Hologram Cloud Inc. (company) — Parent company and purchaser of the convertible note
- June 20, 2025 (date) — Date of the Convertible Note Purchase Agreement
FAQ
What are the specific terms of the Unsecured Convertible Promissory Note issued by MicroAlgo Inc. to WiMi Hologram Cloud Inc.?
The filing states that an Unsecured Convertible Promissory Note was issued, but the specific terms such as principal amount, interest rate, conversion price, and maturity date are not detailed in this excerpt.
What is the principal amount of the convertible note?
The provided text does not specify the principal amount of the Unsecured Convertible Promissory Note.
What is the interest rate on the convertible note?
The interest rate for the Unsecured Convertible Promissory Note is not disclosed in this filing excerpt.
What is the maturity date of the convertible note?
The maturity date for the Unsecured Convertible Promissory Note is not mentioned in the provided information.
What is the conversion price or ratio for the convertible note?
The conversion price or ratio at which the note can be converted into equity is not specified in this document excerpt.
Filing Details
This Form 6-K (Form 6-K) was filed with the SEC on June 20, 2025 regarding MicroAlgo Inc. (VENAF).