Street Calls of the Week
NEW YORK - Zeta Network Group (NASDAQ:ZNB), formerly known as Color Star Technology Co., Ltd., announced Wednesday it has entered into a definitive agreement with investors for the sale of 15,000,000 Class A ordinary shares at $1.00 per share in a registered direct offering. The announcement comes as the stock shows significant volatility, with InvestingPro data revealing a 112.5% return over the past week despite an 81% decline over six months.
The offering, expected to close on or about October 9, 2025, aims to raise approximately $15 million in gross proceeds. Investors may also receive pre-funded warrants in lieu of shares at the same purchase price, less the exercise price of $0.0025 per share.
Univest Securities, LLC is serving as the sole placement agent for the transaction.
The offering is being conducted under a shelf registration statement on Form F-3 previously filed with and declared effective by the U.S. Securities and Exchange Commission on August 28, 2024.
Zeta Network Group, which changed its name from Color Star Technology in August 2025, operates as an entertainment and education company providing online entertainment performances and music education services through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc.
The company’s educational services are delivered via its Color World music and entertainment education platform.
This article is based on a press release statement from the company.
In other recent news, Zeta Network Group announced a strategic partnership with SOLV Foundation, a multi-chain Bitcoin liquid staking platform with $2.5 billion in total value locked. The agreement allows Zeta to utilize SOLV’s platform to manage its Bitcoin holdings, which will be overseen by a regulated third-party custodian. This collaboration also includes the formation of a joint steering committee to develop Bitcoin-centric decentralized finance initiatives. Additionally, Color Star Technology Co., Ltd. revealed plans to change its corporate name to Zeta Network Group and its stock ticker symbol to "ZNB." The company will implement a 25-for-1 reverse share split of its Class A and Class B ordinary shares. These changes are expected to take effect on August 22, 2025, coinciding with the start of trading on the Nasdaq Capital Market. The company stated that the name and ticker changes align with its new business strategy focused on cryptocurrency mining operations and future development plans.
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