Xiao-I Corporation announced that it has entered into a securities purchase agreement to issue senior convertible notes at a principal amount of $3,260,870 and 1,000,002 American Depository Shares on June 17, 2024. The notes will mature 360-days after the Issuance date and will be convertible into the Company?s ADSs at a conversion price equal to $1.00 per ADS. The Notes will bear interest at a rate of 6.0% per annum. The offering is expected to close on or about June 17, 2024, subject to the satisfaction of customary closing conditions.

On the same date, the company has issued senior convertible notes at a principal amount of $3,260,870.