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WiMi Announces Its Subsidiary MicroAlgo To Be Listed On NASDAQ Valued At $400M
WiMi Announces Its Subsidiary MicroAlgo To Be Listed On NASDAQ Valued At $400M
WiMi Hologram Cloud Inc. (NASDAQ:WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that VIYI Algorithm Inc., ("VIYI Algo" ), a company controlled by WiMi, has completed a merger with Venus Acquisition Corporation, a special purpose acquisition company (SPAC), through a public offering in a transaction valued at $400 million.
VIYI Algo is valued at $400 million. And WiMi is the legal beneficial owner of 73% of the issued and outstanding voting securities of VIYI. After VIYI Algo listing on NASDAQ, WiMi's intrinsic value will be highlighted. The surviving entity will be renamed MicroAlgo Inc. and will trade under the NASDAQ symbol "MLGO" on Dec 13, 2022. After listing, as the majority shareholder, WiMi will effectively control MicroAlgo Inc. by holding 63.32% of the voting power of the issued and outstanding ordinary shares, which has a positive and favorable enhancement effect on the intrinsic value of WiMi.
VIYI is dedicated to the development and application of customized central processing algorithms. Central processing algorithms refer to a range of computing algorithms, including analytical algorithms, recommendation algorithms, and acceleration algorithms. VIYI 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 VIYI's services include algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. VIYI's ability to efficiently deliver software and hardware optimization to customers through customized central processing algorithms serves as a driving force for VIYI's long-term development.
Shuo Shi, the Founder and Chief Executive Officer of WiMi, said, " WiMi owns 73% of the legal and beneficial owners of VIYI's $400 million valuation. As a leading provider of central processing algorithm services, VIYI is in an ideal position for rapid revenue growth. WiMi's investment in VIYI Algo to trade on The Nasdaq Capital Market is conducive to maintaining the company's leading competitive advantage in the metaverse and holographic AR industry. Both parties will support each other in technology, product and market, which will help us seize the market opportunity in the field of central processing algorithm services, thus forming a unique market competitiveness. Looking ahead, we will continue to seize market opportunities, and strengthen the company's strength of AI algorithms and cloud computing services to create more long-term value for our shareholders."
WiMi Hologram Cloud Inc. (NASDAQ:WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that VIYI Algorithm Inc., ("VIYI Algo" ), a company controlled by WiMi, has completed a merger with Venus Acquisition Corporation, a special purpose acquisition company (SPAC), through a public offering in a transaction valued at $400 million.
全球领先的全息图增强现实(“AR”)技术提供商WiMi Hologram Cloud Inc.(纳斯达克股票代码:WIMI)(“WiMi” 或 “公司”)今天宣布,由WiMi控制的公司VIYI Algoration Inc.(“VIYI Algo”)已通过公开发行完成与特殊目的收购公司(SPAC)的合并 4 亿。
VIYI Algo is valued at $400 million. And WiMi is the legal beneficial owner of 73% of the issued and outstanding voting securities of VIYI. After VIYI Algo listing on NASDAQ, WiMi's intrinsic value will be highlighted. The surviving entity will be renamed MicroAlgo Inc. and will trade under the NASDAQ symbol "MLGO" on Dec 13, 2022. After listing, as the majority shareholder, WiMi will effectively control MicroAlgo Inc. by holding 63.32% of the voting power of the issued and outstanding ordinary shares, which has a positive and favorable enhancement effect on the intrinsic value of WiMi.
VIYI Algo的估值为4亿美元。WiMi是VIYI73%的已发行和未偿还有表决权证券的合法受益所有者。VIYI Algo在纳斯达克上市后,WiMi的内在价值将得到凸显。幸存的实体将更名为MicroAlgo Inc.,并将于2022年12月13日以纳斯达克股票代码 “MLGO” 进行交易。上市后,作为大股东,WiMi将通过持有已发行和流通普通股63.32%的投票权来有效控制microAlgo Inc.,这对WiMi的内在价值产生积极和有利的增强作用。
VIYI is dedicated to the development and application of customized central processing algorithms. Central processing algorithms refer to a range of computing algorithms, including analytical algorithms, recommendation algorithms, and acceleration algorithms. VIYI 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 VIYI's services include algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. VIYI's ability to efficiently deliver software and hardware optimization to customers through customized central processing algorithms serves as a driving force for VIYI's long-term development.
VIYI 致力于开发和应用定制的中央处理算法。中央处理算法是指一系列计算算法,包括分析算法、推荐算法和加速算法。VIYI 通过将中央处理算法与软件或硬件或两者相集成,为客户提供全面的解决方案,从而帮助他们增加客户数量、提高最终用户满意度、直接节省成本、降低功耗并实现技术目标。VIYI 的服务范围包括算法优化、无需硬件升级即可加速计算能力、轻量级数据处理和数据智能服务。VIYI 能够通过定制的中央处理算法高效地向客户提供软件和硬件优化,这是 VIYI 长期发展的推动力。
Shuo Shi, the Founder and Chief Executive Officer of WiMi, said, " WiMi owns 73% of the legal and beneficial owners of VIYI's $400 million valuation. As a leading provider of central processing algorithm services, VIYI is in an ideal position for rapid revenue growth. WiMi's investment in VIYI Algo to trade on The Nasdaq Capital Market is conducive to maintaining the company's leading competitive advantage in the metaverse and holographic AR industry. Both parties will support each other in technology, product and market, which will help us seize the market opportunity in the field of central processing algorithm services, thus forming a unique market competitiveness. Looking ahead, we will continue to seize market opportunities, and strengthen the company's strength of AI algorithms and cloud computing services to create more long-term value for our shareholders."
WiMi创始人兼首席执行官石硕表示:“WiMi拥有VIYI4亿美元估值的73%的合法和受益所有者。作为中央处理算法服务的领先提供商,VIYI 处于快速收入增长的理想位置。WiMi投资VIYI Algo在纳斯达克资本市场进行交易,有利于保持该公司在元宇宙和全息增强现实行业的领先竞争优势。双方将在技术、产品和市场上相互支持,这将有助于我们抓住中央处理算法服务领域的市场机会,从而形成独特的市场竞争力。展望未来,我们将继续抓住市场机遇,增强公司在人工智能算法和云计算服务方面的实力,为股东创造更多的长期价值。”
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在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
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