Color Star Technology (ADD) has released an update.
Color Star Technology Co., Ltd. has entered into a Securities Purchase Agreement with Streeterville Capital, LLC to sell a Convertible Promissory Note worth $1.1 million, with an original issue discount and transaction expenses making the purchase price $1 million. The agreement, leveraging an exemption from securities registration as per the 1933 Act, allows the note to be converted into Class A ordinary shares. The transaction is set to close on August 13, 2024, with funds being transferred via wire on that date.
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