MicroCloud Hologram Inc. announced that it has entered into a Convertible Note Purchase Agreement with certain investors to issue to each Investor an Unsecured Convertible Promissory Note for aggregate original principal amount of $14,000,000 on March 13, 2024. The Note has a term of 360 days. The Notes carry an aggregate original issue discount of $1,120,000.

The Company bore the costs and other transaction expenses incurred in connection with the purchase and sale of the Notes. The transaction is expected to close on March 14, 2024.