NEW YORK, Oct. 01, 2024 (GLOBE NEWSWIRE) --  Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announced today that it received a formal notification from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company's ordinary shares to maintain a minimum bid price of $1.00 per share.

10/01/2024

NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, today announced it has entered into securities purchase agreements with certain institutional investors (the “Investors”) to purchase senior secured convertible notes in the aggregate principal amount of $7.6 million (the “First Closing”), having an original issue discount of 8% and a maturity of twelve months from issuance, resulting in net proceeds to the Company of approximately $7,000,000 (the “Convertible Notes”). 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, into Class A Ordinary Shares of the Company (the “Ordinary Shares”) at an initial conversion price equal to the lower of $1.60, or the Alternative Conversion Price, as set forth in the Convertible Notes. This First Closing is expected to occur on or about September 30, 2024, subject to the satisfaction of customary closing conditions.

09/27/2024