Xiao-I Corporation finalizes Senior Convertible Notes Offering

Xiao-I Corporation, a leading cognitive intelligence company based in China, recently finalized its Senior Convertible Notes Offering with an institutional investor. The offering involved the sale of $3,260,869.57 Notes with an 8% Original Issue Discount, which can be converted into the Company's ordinary shares. Additionally, the Company offered 1,000,002 ADS at par, representing 333,334 ordinary shares, to the same investor, resulting in gross proceeds of $2,994,945.

After deducting expenses, the net proceeds to the Company totaled approximately $2,496,945. These funds are designated for working capital and general corporate purposes. FT Global Capital Inc. acted as the exclusive placement agent for this transaction.

The offering was carried out through a prospectus supplement under the Company's effective shelf registration statement on Form F-3. The relevant documents were submitted to the SEC on June 17, 2024. Interested individuals can access these documents on the SEC's website or by reaching out to FT Global Capital Inc.

Xiao-I Corporation specializes in delivering business solutions and services in artificial intelligence, encompassing natural language processing, voice and image recognition, machine learning, and affective computing. The Company utilizes its proprietary AI technologies to propel industrial digitization and intelligent transformation.

It's essential to understand that this press release includes forward-looking statements, which are subject to risks and uncertainties. Investors are urged to be cautious and consult the Company's filings with the SEC for a comprehensive grasp of these risks.

Xiao-I Corporation's successful completion of the Senior Convertible Notes Offering marks a significant milestone in its financial strategy. With a focus on leveraging artificial intelligence technologies for business solutions, the Company continues to drive innovation in the industry. Investors and stakeholders are encouraged to stay informed about Xiao-I Corporation's developments through official channels and regulatory filings.