Color Star Technology slumps on stocks and warrants offering
16/09/2020 17:31
** Education services company's shares HHT.O tumble 35.8%
to $0.51, set for worst day since March 31
** Co enters deal to sell 13.2 mln shares in a direct
offering to certain investors for $6.6 mln raise
** Also to issue warrants to buy up to 11.88 mln shares
** Warrants will be exercisable immediately upon the date of
issuance and have an exercise price of $0.55
** The purchase price for one ordinary share and a
corresponding warrant will be $0.50
** Combined stock and warrants represent about ~75% of HHT
free float of 30.06 mln, according to Refinitiv data
** Stock down about 64% in 2020
(Reporting by Medha Singh in Bengaluru)
((medha.singh@thomsonreuters.com))