2023-04-18 09:07:39 ET
- Glory Star New Media Group Holdings ( NASDAQ: GSMG ) stock rallies 133% as its enters into a Share Subscription Agreement with two institutional investors, for the issuance of 2419M ordinary shares in aggregate, at a purchase price of $2.48/share with, the gross proceeds will be $60M.
- The purchase price was determined based off of the privatization price of $1.55/share approved by the Company's shareholders on November 11, 2022, with a 60% premium as agreed to by the Company and the Investors.
- The closing of the private placement is anticipated to occur on or about May 9, 2023.
- GSMG +133.33% premarket to $1.12.
For further details see:
Glory Star stock rallies on $60M strategic investment with two institutional investors at $2.48/share