SHENZHEN, China, March 21,
2025 /PRNewswire/ -- MicroAlgo Inc. (NASDAQ: MLGO),
(the "Company"or "MicroAlgo"), today announced the plan to issue
more new shares, considering
that MicroAlgo Inc. entered into a convertible bond purchase
agreement with creditors on October 7,
2024, with a total amount of US$20
million. These bonds have a maturity period of 360 days.
According to the convertible bond purchase agreement, the bonds are
convertible into common shares at a conversion price equal to 70%
of the lowest closing market price during the 60 trading days
preceding the conversion request.
MicroAlgo Inc. has received notice from the creditors under this
US$20 million convertible bond
purchase agreement, requesting the company to issue new shares at
$ 0.8 per share to repay the debt in
accordance with the agreement terms. The company plans to fulfill
the relevant clauses of this US$20
million convertible bond purchase agreement and will issue
new shares at $ 0.8 per share for
debt repayment.
This serves as a risk disclosure in accordance with the Form 6-K
filing submitted to the U.S. Securities and Exchange Commission
(SEC) on October 9, 2024.
About MicroAlgo Inc.
MicroAlgo Inc. (the "MicroAlgo"), a Cayman
Islands exempted company, is dedicated to the development and
application of bespoke central processing algorithms. MicroAlgo
provides comprehensive solutions to customers by integrating
central processing algorithms with software or hardware, or both,
thereby helping them to increase the number of customers, improve
end-user satisfaction, achieve direct cost savings, reduce power
consumption, and achieve technical goals. The range of MicroAlgo's
services includes algorithm optimization, accelerating computing
power without the need for hardware upgrades, lightweight data
processing, and data intelligence services. MicroAlgo's ability to
efficiently deliver software and hardware optimization to customers
through bespoke central processing algorithms serves as a driving
force for MicroAlgo's long-term development.
Forward-Looking Statements
This press release contains statements that may constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of MicroAlgo, including those set forth in the Risk Factors
section of MicroAlgo's periodic reports on
Forms 10-K and 8-K filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. Words such as
"expect,""estimate,""project,""budget,""forecast,""anticipate,""intend,""plan,""may,""will,""could,""should,""believes,""predicts,""potential,""continue,"
and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include, without limitation, MicroAlgo's expectations with respect
to future performance and anticipated financial impacts of the
business transaction.
MicroAlgo undertakes no obligation to update these statements
for revisions or changes after the date of this release, except as
may be required by law.
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SOURCE Microalgo.INC
