InvestmentJun 30, 2026, 02:41 PM
Xiao-I Corp Secures $2.17M Convertible Note and Issues 325,000 ADSs
AI Summary
Xiao-I Corporation has entered into a Securities Purchase Agreement (SPA) with an institutional investor. Under the agreement, the company will issue an unsecured convertible promissory note with an original principal amount of $2,170,000 and 325,000 ADSs as pre-delivery shares. The note will be issued with a $160,000 original issue discount and $10,000 in transaction expenses, resulting in a purchase price of $2,000,000. The closing of these transactions is anticipated on or about June 30, 2026.
Key Highlights
- Xiao-I Corp entered a Securities Purchase Agreement (SPA) with an institutional investor.
- The company will issue an unsecured convertible promissory note with a principal of $2,170,000.
- 325,000 ADSs will be issued as pre-delivery shares.
- The note includes an original issue discount of $160,000.
- Transaction expenses amount to $10,000.
- The purchase price for the note is $2,000,000.
- Closing of the transactions is expected around June 30, 2026.
Price Impact
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