Color Star Technology Co., Ltd. - ADD STOCK NEWS

Color Star Technology (Nasdaq: ADD) received a notification from Nasdaq on November 14, 2024, stating that the company no longer meets minimum bid price requirements as its Class A ordinary shares have been below $1.00 for 30 consecutive business days. The company has until May 13, 2025 to regain compliance by maintaining a closing bid price of at least $1 for a minimum of 10 consecutive business days. If unsuccessful, Color Star may be eligible for an additional 180-day compliance period, provided it meets other listing requirements and may implement a reverse stock split if necessary.

Color Star Technology (Nasdaq: ADD) announced a 100-for-1 reverse share split of its Class A and Class B ordinary shares, effective November 15, 2024. The split will reduce Class A shares from 70 million to approximately 0.7 million and Class B shares from 1.2 million to 12,000. The company's authorized capital will increase to USD$32 million, divided into 280 billion Class A and 40 billion Class B Ordinary Shares, each with a par value of USD$0.0001. Trading will continue under the symbol 'ADD' with a new CUSIP number G2287A126.

Color Star Technology Co., (Nasdaq: ADD), an entertainment technology company, has regained compliance with Nasdaq's minimum closing bid price rule. The company received formal notification from Nasdaq that it has met the requirement of maintaining a minimum bid price of $1.00 per share for its ordinary shares. This compliance was achieved after the closing bid price of Color Star's Class A Ordinary Shares remained at $1.00 or higher for 10 consecutive business days from September 12, 2024 to September 25, 2024.

Color Star Technology focuses on applying technology and artificial intelligence in the entertainment industry. The company operates through its subsidiaries, Color Metaverse Pte. and CACM Group NY, Inc., providing online entertainment performances and music education services via its Color World platform.

Color Star Technology Co., (Nasdaq: ADD) has announced the pricing of a $7.0 million initial tranche of up to $33.0 million in registered senior secured convertible notes. The company has entered into agreements with institutional investors to purchase $7.6 million in convertible notes with an 8% original issue discount, resulting in net proceeds of approximately $7 million. The notes have a 12-month maturity and a 6.0% annual interest rate.

The notes will be convertible into Class A Ordinary Shares 45 days after the closing date, with an initial conversion price of $1.60 or an alternative conversion price. The offering also includes registered warrants to purchase up to 2.9 million Ordinary Shares, exercisable 45 days after issuance with a five-year expiration and an exercise price of $1.60 per share. Maxim Group is acting as the sole placement agent for this offering, which is expected to close around September 30, 2024.

Color Star Technology Co., (Nasdaq: ADD) has signed a non-binding framework strategic cooperation agreement with Zero2one Consultancy , a UK-based investment company. The partnership aims to promote innovative development in education, culture, and sports in the United Kingdom. Key aspects of the collaboration include:

1. Investing in youth football training camps and artist incubation programs
2. Establishing training bases across the UK to provide diverse learning opportunities
3. Leveraging Color Star's existing relationships with international football clubs
4. Focusing on cultivating young talent in education, sports, and culture

This agreement marks Color Star's expansion in the UK education sector and aligns with its commitment to integrating education, sports, and culture globally.

Color Star Technology Co., (Nasdaq: ADD), an entertainment technology company focusing on AI in the entertainment industry, has appointed Ren Pelosi as its new vice president, effective September 1, 2024. Ms. Pelosi, previously an equity trader at World Trade Securities, brings a strong background in finance and strategy to the role. She holds a bachelor's degree in Finance from St. Cloud State University and a master's degree in Cognitive Science from Columbia University.

CEO Haixiang Luo expressed high expectations for Ms. Pelosi's contribution, particularly in driving new breakthroughs in investment and financial management. The company aims to leverage her expertise to achieve greater success in the investment field and support future developments.

Color Star Technology Co., Ltd. (Nasdaq: ADD) received a notification letter from Nasdaq regarding its non-compliance with the minimum bid price requirement. The company's Class A ordinary shares have been below $1.00 for 30 consecutive business days, triggering the notification. However, the notification has no immediate effect on the listing of the company’s ordinary shares on Nasdaq. Color Star has until May 13, 2024, to regain compliance, with the possibility of an additional 180-day extension if certain conditions are met.

Color Star Technology announces plans to release its first digital music album by its AI virtual band 'Vibrant Music Collective' in November 2023.

Color Star Technology announces planned acquisition of Yi Ti Technology, a sports technology solutions provider. Yi Ti's annual revenue is growing, and they have been involved in major international sporting events. The acquisition will be a major step forward for Color Star in the field of sports technology.