Xiao-i corporation announces closing of $3,260,870 senior convertible notes offering

Shanghai , june 17, 2024 /prnewswire/ -- xiao-i corporation ("xiao-i" or the "company") (nasdaq: aixi) announced today the closing of its previously disclosed senior convertible notes offering (the "notes") with an institutional investor (the "investor") to purchase an aggregate principal amount of $3,260,869.57 notes with an 8% original issue discount, convertible into the company's ordinary shares ("conversion shares") in the form of american depositary shares ("conversion adss"), and its concurrently offering of an additional 1,000,002 ads (the "pre-delivery adss"), at par, representing 333,334 of its ordinary shares (the "pre-delivery shares"), to the investor, for gross proceeds of $2,994,945. each ads represents one third of an ordinary share.
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