NEW
YORK, Jan. 13, 2023 /PRNewswire/ -- MicroAlgo
Inc. (the "Company" or "MicroAlgo") (NASDAQ: MLGO) today
announced that it has entered into a definitive agreement for the
issuance and sale of 2,666,667 private placement units at
$1.20 per unit, each unit consisting
of one ordinary share of the Company, par value $0.001 per share, ("Ordinary Share") and one
warrant entitling the holder to purchase one whole Ordinary Share
at an exercise price of $1.35 per
whole share. The gross proceeds to the Company from this private
offering is approximately $3.2 million.
As a condition to the closing, the Company and the Investor will
enter into a Registration Rights Agreement pursuant to which the
Company will file with the U.S. Securities and Exchange Commission
(the "SEC") a registration statement covering the registrable
securities within a reasonable timeframe upon the demand of the
Investor.
About MicroAlgo Inc.
MicroAlgo Inc. (the "MicroAlgo"), a Cayman
Islands exempted company, is dedicated to the development and
application of bespoke central processing algorithms. MicroAlgo
provides comprehensive solutions to customers by integrating
central processing algorithms with software or hardware, or both,
thereby helping them to increase the number of customers, improve
end-user satisfaction, achieve direct cost savings, reduce power
consumption, and achieve technical goals. The range of
MicroAlgo's services includes algorithm optimization,
accelerating computing power without the need for hardware
upgrades, lightweight data processing, and data intelligence
services. MicroAlgo's ability to efficiently deliver software and
hardware optimization to customers through bespoke central
processing algorithms serves as a driving force for MicroAlgo's
long-term development.
Forward-Looking Statements
This press release contains statements that may constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of MicroAlgo, including those set forth in the Risk Factors
section of MicroAlgo's periodic reports on
Forms 10-K and 8-K filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. Words such as
"expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, MicroAlgo's expectations with respect to future
performance and anticipated financial impacts of the business
transaction.
MicroAlgo undertakes no obligation to update these statements
for revisions or changes after the date of this release, except as
may be required by law.
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SOURCE MicroAlgo Inc.