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Color Star Technology Announces $7.0 Million Tranche of Registered Senior Secured Convertible Notes

Sep 27, 2024over 1 year ago

Contract Type

agreement

EducationMusicInternetMusic Education

Description

Color Star Technology Co., Ltd. has entered into securities purchase agreements with certain institutional investors to purchase senior secured convertible notes in the aggregate principal amount of $7.6 million, resulting in net proceeds to the company of approximately $7,000,000. The Convertible Notes will bear an interest rate of 6.0% per annum and will be convertible 45 days after the date of the First Closing, subject to certain conditions.

Company Information

Company

Color Star Technology Ltd

About

Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.

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