Xiao-I Entered Into Private Placement & Securities Purchase Agreement To Issue, Sell Convertible Promissory Note For $2.1M
Portfolio Pulse from Benzinga Newsdesk
Xiao-I has entered into a private placement and securities purchase agreement to issue and sell a convertible promissory note for $2.1 million, as per an SEC filing.
November 01, 2024 | 10:49 pm
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POSITIVE IMPACT
Xiao-I has secured $2.1 million through a private placement and securities purchase agreement, issuing a convertible promissory note.
The issuance of a convertible promissory note for $2.1 million provides Xiao-I with additional capital, which can enhance its financial flexibility and potentially support growth initiatives. This is likely to be viewed positively by investors, leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100