Minimax Aims to Secure $1.9 Billion Through Share and Bond Sale
WHO:
Techmeme - MiniMax CEO Junjie Yan informed employees he will forgo his salary until MiniMax achieves AGI.
Bloomberg - MiniMax Group Inc. is the organization involved in the funding effort.
WHAT:
Techmeme - Junjie Yan promised to allocate personal shares to employee incentives.
Bloomberg Markets - MiniMax Group Inc. is looking to raise as much as HK$14.54 billion ($1.9 billion) from selling new shares and convertible bonds, according to terms of the deals seen by Bloomberg News.
Techmeme - MiniMax is looking to raise as much as $1.9 billion by selling 35.6 million shares at approximately $34 each.
Bloomberg - MiniMax is also offering approximately $830 million in convertible bonds due in 2027.
WHERE:
Bloomberg Markets - The funding effort is part of a trend among Chinese technology companies.
WHEN:
Bloomberg - The convertible bonds are due in 2027.
WHY:
Techmeme - The funding is aimed at supporting the artificial intelligence buildout.
HOW:
Techmeme - The decision to forgo salary and allocate shares is part of an internal memo to employees.
Bloomberg - MiniMax plans to raise funds through the sale of new shares and convertible bonds.
(UPDATED July 10, 2026 11:54 UTC)
In a recent internal memo, MiniMax CEO Junjie Yan announced that he will forgo his salary until the company achieves artificial general intelligence. He also promised to allocate personal shares as incentives for employees. This decision reflects his commitment to the company's future and the motivation of his team.
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(UPDATED July 10, 2026 10:07 UTC)
MiniMax Group Inc. is planning to raise up to HK$14.54 billion, which is approximately $1.9 billion, through the sale of new shares and convertible bonds. This information comes from terms of the deals that were reviewed by Bloomberg News. The company aims to bolster its financial position with this significant fundraising effort.
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(UPDATED July 10, 2026 04:18 UTC)
MiniMax Group Inc. is making headlines as it seeks to raise up to $1.9 billion by selling 35.6 million shares at around $34 each, alongside offering approximately $830 million in convertible bonds due in 2027. This funding effort is part of a broader trend among Chinese technology companies and is aimed at supporting the artificial intelligence buildout. MiniMax plans to secure these funds through the sale of new shares and convertible bonds, marking a significant move in the tech sector.