MicroAlgo Agrees to Private Placement of Units for Up to $3.2 Million
MicroAlgo Inc. entered into a Private Placement Unit Purchase Agreement on January 13, 2023, with Joyous JD Limited, which will buy up to 2,666,667 units at $1.20 per unit for gross proceeds of approximately $3.2 million. Each unit includes one ordinary share and one warrant exercisable at $1.35 per share, and the closing is subject to customary conditions. The filing also describes a registration rights agreement under which the company will file a registration statement with the SEC upon the investor's demand.
- Investor: Joyous JD Limited; up to 2,666,667 units at $1.20 per unit
- Each unit: one ordinary share (par value $0.001) and one warrant at a $1.35 exercise price per whole share
- Gross proceeds of approximately $3.2 million, subject to customary closing conditions
- Registration rights agreement requires an SEC registration statement upon the investor's demand