MicroAlgo Inc. Announces New Share Issuance At $0.8 To Manage Convertible Bond Debt

$MLGO

MicroAlgo Inc. (NASDAQ: MLGO), a leader in central processing algorithms, has revealed its plan to issue new shares priced at $0.8 each. This strategic decision aims to manage the company’s outstanding debt obligations under a convertible bond agreement made with creditors on October 7, 2024, involving a total of $20 million.

The terms of the agreement allow for these bonds to be converted into common shares at a price set to 70% of the lowest closing market price during the 60 trading days leading up to a conversion request. In line with its commitment to transparency, the company disclosed the risks related to this share issuance in its Form 6-K filing with the US Securities and Exchange Commission (SEC), ensuring regulatory compliance.

Headquartered in the Cayman Islands, MicroAlgo continues to bolster its market position through the integration of innovative software and hardware solutions with its proprietary central processing algorithms. These technological advancements have helped the company expand its customer base, boost user satisfaction, and achieve notable cost savings. Additionally, MicroAlgo’s solutions focus on sustainability by reducing power consumption while enhancing technical performance.

MicroAlgo’s decision to issue new shares at a competitive price point marks a significant step in its financial management. As MicroAlgo moves forward, its approach to both technology and financial health will be instrumental in defining its success in the competitive algorithm optimization and data processing industry.

**DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS INVESTMENT ADVICE. INVESTING INVOLVES RISK, INCLUDING THE POTENTIAL LOSS OF PRINCIPAL. READERS ARE ENCOURAGED TO CONDUCT THEIR OWN RESEARCH AND CONSULT WITH A QUALIFIED FINANCIAL ADVISOR BEFORE MAKING ANY INVESTMENT DECISIONS.**