Color Star Technology Announces Corporate Name Change, Stock Ticker Symbol Change and 25-for-1 Reverse Share Split

Color Star Technology Announces Corporate Name Change, Stock Ticker Symbol Change and 25-for-1 Reverse Share Split

Benzinga
August 20, 2025

NEW YORK, Aug. 20, 2025 /PRNewswire/ -- Color Star Technology Co., Ltd. (NASDAQ:ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on cryptocurrency mining and the application of technology and artificial intelligence in the entertainment industry, announced today that it will change its corporate name to Zeta Network Group, change its stock ticker symbol to "ZNB," and will effect a 25-for-1 reverse share split of its Class A and Class B ordinary shares (collectively, the "Corporate Events"). The Company anticipates that the Corporate Events will be effective upon the commencement of trading on the Nasdaq Capital Market on August 22, 2025 (U.S. Eastern Time). The corporate name change and stock ticker symbol change reflects the Company's new business strategy in its new cryptocurrency mining operations and its future development plans.

On June 29, 2025, the shareholders of the Company approved the Corporate Events and corresponding changes in the Seventh Amended and Restated Memorandum and Articles of Association, and on July 28, 2025, the board of directors of the Company approved the definitive reverse share split ratio of 25-for-1. As a result of the reverse share split, the number of ordinary shares outstanding will be reduced from approximately 14.6 million Class A Ordinary Shares and 12,000 Class B Ordinary Shares to approximately 585,000 Class A Ordinary Shares and 480 Class B Ordinary Shares, respectively, subject to rounding up of all fractional shares to the nearest whole share in lieu of such fractional shares. The authorized capital of the Company after the reverse split will be USD$32 million divided into 11.2 billion Class ...

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