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Zeta Network Group
ZNBCommunication ServicesNASDAQUS
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NEW YORK, March 10, 2026 /PRNewswire/ -- Zeta Network Group (NASDAQ: ZNB) (the "Company"), today announced it has entered into a securities purchase agreement (the "Purchase Agreement") with certain institutional investors (the "Investors") to issue and sell up to $10 million of its Senior 10% Original Issue Discount Convertible Promissory Notes, having an original issue discount of 10% and a maturity of twelve months from issuance (the "Notes"), and warrants (the "Warrants") to purchase the Company's Class A ordinary shares (the "Ordinary Shares"). The initial closing under the Purchase Agreement (the "First Closing") will involve an aggregate principal amount of $6 million of Notes, resulting in gross proceeds to the Company of $5.4 million, and a number of Warrants determined by dividing $3 million, half of the principal amount of the Notes, by the variable weighted average price ("VWAP") of the Ordinary Shares on the trading day immediately prior to the closing date (as adjusted for the one-for-100 share consolidation as previously announced by the Company that will take effect on Nasdaq upon the opening of the market on March 12, 2026).
NEW YORK, March 9, 2026 /PRNewswire/ -- Zeta Network Group ("Zeta" or the "Company") (Nasdaq: ZNB), today announced that the Company's board of directors approved on February 10, 2026, that the authorised, issued, and outstanding shares of the Company be consolidated on a 100 for 1 ratio with the marketplace effective date of March 12, 2026. The objective of the share consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on Nasdaq.
