---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-22-019486"
form_type: "8-K"
ticker: "MLGO"
cik: "0001800392"
company_name: "MicroAlgo Inc."
filed_at: "2022-11-23T23:59:59+00:00"
generated_at: "2026-06-21T13:29:42.696516+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Backstop agreement secures up to $25M to cover SPAC share redemptions for VIYI Algorithm merger

## Summary
- Joyous JD Limited agrees to purchase redeemed shares in open market or private transactions up to $25 million at redemption price.
- Sponsor Yolanda Management to convert $2.14M in loans to shares and transfer them to Joyous JD on closing.
- Backstop ensures sufficient shares remain after redemptions to satisfy conditions for the merger with VIYI Algorithm.
- Buyer agrees not to exercise any redemption rights on shares it acquires under the agreement.

## SEC filing metadata
- accession: 0001829126-22-019486
- form_type: 8-K
- ticker: MLGO
- cik: 0001800392
- company_name: MicroAlgo Inc.
- filed_at: 2022-11-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1800392/000182912622019486/0001829126-22-019486-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1800392/000182912622019486/venusacqcorp_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-22-019486
- JSON: https://secwatch.observer/filing/0001829126-22-019486.json
- Plain text: https://secwatch.observer/filing/0001829126-22-019486.txt

## Key facts
- Material Agreements
  MicroAlgo Inc. entered into Backstop Agreement with Joyous JD Limited valued at up to US$25,000,000 (effective 2022-11-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Joyous JD Limited
  - Value: up to US$25,000,000
  - Effective: 2022-11-23
  source text: On November 23, 2022 Venus Acquisition Corporation (the “ Issuer ”) and the Sponsor of the Issuer, Yolanda Management Corporation (the “Sponsor”) entered into a backstop agreement (the “ Agreement ”) with Joyous JD Limited (the “ Buyer ”) in connection with that certain business combination agreement (the “Acquisition Agreement”), dated as of June 10, 2021 as amended, pursuant to which Issuer will consummate an acquisition of VIYI Algorithm Inc., a Cayman Islands company (the “Target”) in a merger (the “Merger”) in accordance with the terms and conditions thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1800392/000182912622019486/0001829126-22-019486-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.