MicroCloud Hologram Inc. announced that it has entered into Convertible Note Purchase Agreements with certain investors to issue convertible notes for the gross proceeds of $8,470,000 on January 23, 2024. The Note has a term of twenty-four (24) months commencing on January 24, 2024. The Notes carry an aggregate original issue discount of $760,000.

The Company bore the costs and other transaction expenses incurred in connection with the purchase and sale of the Notes. The transaction is expected to close on January 24, 2024. The principal amount of the transaction is $9,500,000.