- Color Star Technology ( NASDAQ: CSCW ) has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of ordinary shares and warrants.
- Each unit consists of one ordinary share and one warrant to purchase one ordinary share. The purchase price per unit is $0.08.
- Gross proceeds will be ~$5.6M.
- Company will issue to the investors an aggregate of 70M shares and warrants.
- Placement is expected to occur on or about September 19, 2022.
- Stock drops 45% pre-market.
For further details see:
Color Star Technology declines 45% on $5.6M direct placement