XIAO-I CORPORATION Announces Pricing 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 that it has entered into a securities purchase agreement with an institutional investor (the "Investor") to issue and sell an aggregate principal amount of $3,260,870 senior convertible notes (the "Notes") with an 8% Original Issue Discount to the Investor, convertible into the Company's ordinary shares ("Conversion Shares") in the form of American Depositary Shares ("Conversion ADSs") (the "SPA"). Each ADS represents one third of an ordinary share.
The Company is also concurrently offering an additional 1,000,002 ADS (the "Pre-Delivery ADSs"), at par, representing 333,334 of
