Microalgo Said On June 5, Entered Into Convertible Note Purchase Agreements With Certain Investors; Issued To Each Investor Notes Pursuant To Relevant Purchase Agreements; Aggregate Original Principal Amount Of Notes Is $30M
Portfolio Pulse from Benzinga Newsdesk
Microalgo announced on June 5 that it has entered into convertible note purchase agreements with certain investors, issuing notes with an aggregate original principal amount of $30 million.
June 06, 2024 | 11:16 am
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Microalgo has entered into convertible note purchase agreements with investors, issuing notes worth $30 million. This move could provide the company with additional capital for growth or operational needs.
The issuance of $30 million in convertible notes indicates that Microalgo is securing significant capital, which could be used for growth initiatives or operational needs. This is generally seen as a positive development for the company's financial health and future prospects.
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