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XIAO-I CORPORATION Announces Closing of $3,260,870 Senior Convertible Notes Offering

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SHANGHAI, June 17, 2024 /PRNewswire/ — Xiao-I Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI) announced today the closing of its previously disclosed Senior Convertible Notes Offering (the “Notes”) with an institutional investor (the “Investor”) to purchase an aggregate principal amount of $3,260,869.57 Notes with an 8% Original Issue Discount, convertible into the Company’s ordinary shares (“Conversion Shares”) in the form of American Depositary Shares (“Conversion ADSs”), and its concurrently offering of an additional 1,000,002 ADS (the “Pre-Delivery ADSs”), at par, representing 333,334 of its ordinary shares (the “Pre-Delivery Shares”), to the Investor, for gross proceeds of $2,994,945. Each ADS represents one third of an ordinary share.   

After deducting the placement agent’s commission and other offering expenses payable by the Company, the net proceeds to the Company were approximately $2,496,945. The Company intends to use the net proceeds for working capital and general corporate purposes.

FT Global Capital Inc. acted as the exclusive placement agent in connection with this offering.

The Notes, Conversion ADSs and Pre-Delivery ADSs were sold through a prospectus supplement pursuant to the Company’s effective shelf registration statement on Form F-3, as amended (SEC File No. 333-279306) and the base prospectus therein. Such prospectus supplement and accompanying prospectus relating to and describing the terms of this offering were filed with the SEC on June 17, 2024. When available, copies of such prospectus supplement and accompanying prospectus may be obtained at the SEC’s website www.sec.gov or by contacting FT Global Capital Inc., 1688 Meridian Avenue Suite 700, Miami Beach, FL 33139 USA.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Xiao-I Corporation

Xiao-I Corporation is a leading cognitive intelligence enterprise in China that offers a diverse range of business solutions and services in artificial intelligence, covering natural language processing, voice and image recognition, machine learning, and affective computing. Since its inception in 2001, the Company has developed an extensive portfolio of cognitive intelligence technologies that are highly suitable and have been applied to a wide variety of business cases. Xiao-I powers its cognitive intelligence products and services with its cutting-edge, proprietary AI technologies to enable and promote industrial digitization, intelligent upgrading, and transformation. For more information, please visit: www.xiaoi.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to achieve its goals and strategies, the Company’s future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions in China, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission (“SEC”). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, including under the section entitled “Risk Factors” in its annual report on Form 20-F filed with the SEC on April 30, 2024, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

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SOURCE Xiao-I Corporation

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RADPAIR Named “Best New Radiology Vendor 2024” at AuntMinnie.com’s Minnies Awards

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November 13, 2024

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KNOXVILLE, Tenn., Nov. 13, 2024 /PRNewswire/ — RADPAIR, a Knoxville-based radiology tech startup founded by radiologist and CEO Dr. Avez Rizvi, has been awarded “Best New Radiology Vendor 2024” by AuntMinnie.com. This recognition highlights RADPAIR’s AI-driven platform, designed to address radiology’s growing workload and burnout by automating essential parts of the reporting process.

“Radiologists are facing unprecedented levels of burnout, with increased demands and a workload that continues to grow,” said Dr. Rizvi, RADPAIR’s Founder & CEO. “At RADPAIR, we wanted to make a meaningful impact by developing solutions that ease their daily challenges, allowing them to focus more on their expertise and patient care.”

With version 2.0 launched this year, RADPAIR now includes AI inference capabilities developed with Groq, PAIR Insights for seamless access to Radiopaedia.org’s clinical guidelines, and Wingman, a real-time editing support feature. RADPAIR’s zero-footprint platform is ready for use out-of-the-box and can be customized for individual users.

Strategic Partnerships Drive Platform Success

RADPAIR’s effectiveness is strengthened through recent partnerships with platform providers and enterprise imaging systems such as Deepc, RamSoft, LifeTrack, InsiteOne, NewVue, PACS Harmony, and channel distributors like Illudium Technologies, among many others. These collaborations, along with our growing network of commercial partners and practices throughout the country and around the world, are integral to our platform’s continued success.

“Radiology is at a crossroads—our technology is designed to meet this moment by offering radiologists tools that enhance their efficiency and ease daily demands,” Dr. Rizvi added. “We’re proud to help these invaluable professionals find joy in their work again.”

RADPAIR will showcase its latest advancements at the 2024 Radiological Society of North America (RSNA) conference in Chicago, December 1-5, at Booth #4918 in the South Hall AI section. Attendees can book a demo at www.radpair.com/rsna2024.

About RADPAIR
RADPAIR offers a fully cloud-based, AI-powered radiology reporting platform focused on enhancing radiology workflows and improving patient care.

Media Contact
Fatima Baig
Marketing Director, RADPAIR
310-766-8911
fatima@radpair.com

 

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New Research Uncovers Surge in SAP Automation as S/4HANA Migrations Accelerate

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46 minutes ago

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November 13, 2024

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Complex SAP-centric business processes continue to hinder full-scale, organization-wide automation

BURLINGTON, Mass, Nov. 13, 2024 /PRNewswire/ — Precisely, the global leader in data integrity, today released new findings from a survey conducted in collaboration with the Americas SAP Users Group (ASUG). Announced during the ASUG Tech Connect event, the Unlocking Automation in SAP: 2025 Trends and Challenges report provides important insight into the adoption, maturity, and challenges of automation in SAP environments.

Findings reveal the increasing importance of data and process automation in digital transformation efforts, alongside the key factors hindering success.

Automation Adoption Increases Despite Persistent Challenges

The survey shows that 58% of organizations now use automation for SAP migrations and digital transformation projects – an increase from 43% in the 2023 report. Alongside this, the research highlighted a 69% reduction in the number of organizations reporting low automation maturity – dropping from 13% in 2023, to just 4%.

Despite this progress, many businesses still face hurdles in reaching full automation maturity. Most organizations (56%) report having a “medium” level of automation, indicating a blend of automated and manual processes. Furthermore, half of the respondents (50%) stated that they implement automation selectively, choosing a case-by-case approach rather than adopting it organization-wide.

A key reason for these trends in automation is the increasing complexity of SAP-centric business processes, particularly when it involves the creation and management of master data. The majority of respondents (61%) report integration with existing business processes as the biggest challenge when adopting process automation, a significant increase from just 39% in 2023. This is closely followed by 53% of respondents citing the complexity of business processes as a key obstacle to success. 

SAP S/4HANA Migrations Gain Sudden Momentum

Alongside increased focus on automation, the research further reveals a significant shift towards SAP S/4HANA adoption as the 2027 deadline for migrations fast approaches. By the end of 2024, 50% of respondents will have migrated or started migration to S/4HANA, with another 30% planning to make the move within the next two years.

The news is in stark contrast to previous industry reports showing slow rates of adoption. The migration from legacy SAP ERP systems to S/4HANA is a notoriously complex process, which can require the parallel operation of both legacy and new systems, alongside significant data management challenges. Successful companies rely on process automation to accelerate complex SAP business processes, enabling them to create new master data and transaction data in SAP systems, update mass amounts of data throughout the SAP landscape using Excel, and perform data migration from existing systems to S/4HANA.

“Organizations realize that as they expand automation efforts and advance digital transformation strategies within their SAP environments, challenges with business complexity and integrations increase,” said Chris Hall, Chief Product Officer at Precisely. “Our end-to-end automation solutions, combined with our powerful data integrity capabilities, empower customers to overcome these obstacles – enabling them to gain the speed, agility, and trusted data needed to stay ahead of the competition.”

Access the Unlocking Automation in SAP: 2025 Trends and Challenges report to learn more.

About Americas SAP Users Group (ASUG)

ASUG is the world’s largest SAP user group. Originally founded by a group of visionary SAP customers in 1991, its mission is to help people and organizations get the most value from their investment in SAP technology. ASUG currently serves thousands of businesses via companywide memberships, connecting more than 130,000 professionals with networking and educational resources to help them master new challenges. Through in-person and virtual events, on-demand digital resources, and ongoing advocacy for its membership, ASUG helps SAP customers make more possible. Learn more at www.asug.com.

About Precisely
As a global leader in data integrity, Precisely ensures that your data is accurate, consistent, and contextual. Our portfolio, including the Precisely Data Integrity Suite, helps integrate your data, improve data quality, govern data usage, geocode and analyze location data, and enrich with complementary datasets for confident business decisions. Over 12,000 organizations in more than 100 countries, including 93 of the Fortune 100, trust Precisely software, data, and strategy services to power AI, automation, and analytics initiatives. Learn more at www.precisely.com.

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Edible’s Inaugural State of Gifting Report Unveils Top Trends Driving the Future of Shopping and Celebration

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November 13, 2024

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Data-driven insights uncover key gifting behaviors across demographics and how they will shape the retail landscape

ATLANTA, Nov. 13, 2024 /PRNewswire/ — Edible®, an innovative e-commerce retail hub and modern gifting destination, has unveiled its first-ever State of Gifting Report, providing a timely look at anticipated trends for this year’s holiday season and beyond. Based on extensive internal data and consumer research, the report reveals how people are celebrating life’s moments in more spontaneous, creative, and personalized ways and provides a glimpse into how retailers must evolve to meet these shifting demands.

“We’ve always kept a close eye on consumer trends, constantly innovating to keep pace with what gifters want today and what they’ll need tomorrow,” says Somia Farid Silber, CEO of Edible Brands®. “For the first time, we’re sharing these insights with the world and providing a look into the future, from long-distance gifting to the rise of self-treating and new gifting occasions. We’re seeing gifting evolve in exciting ways, and, by remaining at the heart of these trends, reaffirming our commitment to make gifting easier and more joyful for all.”

From the growing love for same-day deliveries to the resurgence of in-store shopping, Edible’s State of Gifting Report offers a juicy glimpse into the future of gifting. Among the key findings are five overarching trends:

PRO-crastination Nation: Rushed Orders with Real Love – Last-minute gifting is on the rise, reflecting a growing reliance on same-day and next-day delivery services. Yet, consumers still want the best, signaling a need for flexibility from retailers in today’s fast-paced worldClick or Brick (and Mortar): Gen Z’s In-Store Comeback Has Everyone Talking – Online shopping may dominate, but Gen Z is rediscovering the value of in-store experiences.The Distance Dilemma: Bridging the Miles One Click at a Time – When people can’t show up IRL, they turn to the URL. Long-distance gifting will continue to connect loved ones even from miles away.Millennials Want a Brandlationship, While Gen Z is Still Dating Around – Millennials will continue to stick with brands they trust, while Gen Z is all about seeking novelty, personalization, and snagging the best promotion—proving loyalty is earned differently across generations.No Occasion? No Problem – “Just Because” gifting is taking off, particularly among younger generations. Self-gifting has also surged, with Gen Z embracing this trend as a form of self-care, while older generations, especially Boomers, continue to favor larger gifts that bring people together for shared experiences.

The report also sheds light on societal implications, including how social media fueled the rise of new gifting occasions like hashtag holidays such as #NationalGirlfriendDay and other generational differences across multiple facets of retail.

View Edible’s State of Gifting Report here to learn more about these and other emerging trends, the data behind these findings and insight from brand executives into how gifting will continue to evolve in 2025. For more information, please contact media@edible.com.

About Edible®
Founded in 1999, Edible® has revolutionized the gifting industry, uniquely leveraging the synergistic power of an innovative e-commerce hub and locally owned brick-and-mortar locations across the globe. Edible’s platform seamlessly blends the convenience of online shopping with a vast retail footprint that services over 70% of U.S. households within an hour. Expanding beyond its iconic fruit arrangements, Edible has a range of offerings, including delectable dessert boards, cookies, brownies, cakes, farm-fresh flowers and more – perfect for every celebratory occasion and any treat-yourself moment. For more information, visit edible.com.

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