MicroAlgo (MLGO) shares fell 32% in recent Friday trading after the company said it would issue new shares at $0.8 apiece to repay debt.
The company said it was asked by holders of its $20 million convertible bonds to issue the shares. Under an agreement signed in October 2024, the convertible bonds have a maturity of 360 days, MicroAlgo said.
Price: 2.12, Change: -1.00, Percent Change: -32.05
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