Xiao-I Corporation Successfully Completes Senior Convertible Notes Offering, Secures Funds for Future Growth
June 20, 2024, 10:00 pm
Location: United States, District of Columbia, Washington
Employees: 1001-5000
Founded date: 1934
Total raised: $392.5M
Xiao-I Corporation, a prominent cognitive intelligence enterprise based in China, recently announced the successful closing of its Senior Convertible Notes Offering with an institutional investor. The offering, which included Notes convertible into the Company's ordinary shares and additional American Depositary Shares (ADS), generated gross proceeds of $2,994,945. After deducting expenses, the net proceeds amounted to approximately $2,496,945, earmarked for working capital and general corporate purposes to fuel the Company's future growth and development.
FT Global Capital Inc. played a crucial role as the exclusive placement agent in facilitating this offering, underscoring the Company's commitment to strategic partnerships and financial stewardship. Xiao-I Corporation's innovative cognitive intelligence technologies, encompassing natural language processing, voice and image recognition, machine learning, and affective computing, have positioned it as a leader in the field since its inception in 2001.
By leveraging its proprietary AI technologies, Xiao-I Corporation empowers businesses across various sectors to embrace digital transformation and enhance operational efficiency. The Company's diverse range of business solutions and services have been instrumental in driving industrial digitization and intelligent upgrading, aligning with the evolving needs of the market.
While the completion of the Senior Convertible Notes Offering marks a significant milestone for Xiao-I Corporation, investors are advised to exercise caution when considering forward-looking statements. The Company's commitment to transparency and compliance is evident in its filings with the U.S. Securities and Exchange Commission (SEC), where detailed information on risk factors and financial performance can be accessed for a comprehensive understanding of its operations.
As Xiao-I Corporation continues to navigate the dynamic landscape of cognitive intelligence and artificial intelligence, its focus remains on innovation, growth, and delivering value to stakeholders. The successful closure of the Senior Convertible Notes Offering underscores the Company's ability to secure funding for its strategic initiatives and underscores its position as a key player in the global AI market.
In conclusion, Xiao-I Corporation's recent financial milestone reflects its commitment to driving innovation and excellence in the cognitive intelligence sector. With a strong foundation built on cutting-edge technologies and a strategic vision for the future, the Company is poised for continued success and growth in the ever-evolving landscape of AI-driven solutions.
FT Global Capital Inc. played a crucial role as the exclusive placement agent in facilitating this offering, underscoring the Company's commitment to strategic partnerships and financial stewardship. Xiao-I Corporation's innovative cognitive intelligence technologies, encompassing natural language processing, voice and image recognition, machine learning, and affective computing, have positioned it as a leader in the field since its inception in 2001.
By leveraging its proprietary AI technologies, Xiao-I Corporation empowers businesses across various sectors to embrace digital transformation and enhance operational efficiency. The Company's diverse range of business solutions and services have been instrumental in driving industrial digitization and intelligent upgrading, aligning with the evolving needs of the market.
While the completion of the Senior Convertible Notes Offering marks a significant milestone for Xiao-I Corporation, investors are advised to exercise caution when considering forward-looking statements. The Company's commitment to transparency and compliance is evident in its filings with the U.S. Securities and Exchange Commission (SEC), where detailed information on risk factors and financial performance can be accessed for a comprehensive understanding of its operations.
As Xiao-I Corporation continues to navigate the dynamic landscape of cognitive intelligence and artificial intelligence, its focus remains on innovation, growth, and delivering value to stakeholders. The successful closure of the Senior Convertible Notes Offering underscores the Company's ability to secure funding for its strategic initiatives and underscores its position as a key player in the global AI market.
In conclusion, Xiao-I Corporation's recent financial milestone reflects its commitment to driving innovation and excellence in the cognitive intelligence sector. With a strong foundation built on cutting-edge technologies and a strategic vision for the future, the Company is poised for continued success and growth in the ever-evolving landscape of AI-driven solutions.