Glory Star Announces a New Round of $20 Million Strategic Investment at $2.48 per Share

PR Newswire2023-08-16

BEIJING, Aug. 16, 2023 /PRNewswire/ -- Glory Star New Media Group Holdings Limited, ("Glory Star", the "Company" or "we") (NASDAQ: GSMG), a leading digital media platform and content-driven e-commerce...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2359638337?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/CgevGrHiB6FhD_ztngxXAw--~B/aD0xNjt3PTE2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/prnewswire.com/4bdf9fa00eba0cb1651ce6e8a472065a","is_english":true,"pubTime":"2023-08-16 20:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2359638337","market":"us","top_or_hot":-1,"title":"Glory Star Announces a New Round of $20 Million Strategic Investment at $2.48 per Share","media":"PR Newswire","content":"<div>\n<p>BEIJING, Aug. 16, 2023 /PRNewswire/ -- Glory Star New Media Group Holdings Limited, (\"Glory Star\", the \"Company\" or \"we\") (NASDAQ: GSMG), a leading digital media platform and content-driven e-commerce...</p>\n\n<a href=\"https://finance.yahoo.com/news/glory-star-announces-round-20-120000273.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Glory Star Announces a New Round of $20 Million Strategic Investment at $2.48 per Share</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlory Star Announces a New Round of $20 Million Strategic Investment at $2.48 per Share\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-16 20:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/glory-star-announces-round-20-120000273.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, Aug. 16, 2023 /PRNewswire/ -- Glory Star New Media Group Holdings Limited, (\"Glory Star\", the \"Company\" or \"we\") (NASDAQ: GSMG), a leading digital media platform and content-driven e-commerce...</p>\n\n<a href=\"https://finance.yahoo.com/news/glory-star-announces-round-20-120000273.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4077","symbol_name":"互动媒体与服务","start_time":0,"source_url":"https://finance.yahoo.com/news/glory-star-announces-round-20-120000273.html","article_id":"2359638337","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/CgevGrHiB6FhD_ztngxXAw--~B/aD0xNjt3PTE2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/prnewswire.com/4bdf9fa00eba0cb1651ce6e8a472065a"],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/glory-star-announces-round-20-120000273.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2359638337","pubTimestamp":1692187200,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"BEIJING, Aug. 16, 2023 /PRNewswire/ -- Glory Star New Media Group Holdings Limited,  , a leading digital media platform and content-driven e-commerce company in China, today announced that it has entered into a Share Subscription Agreement with two new institutional investors, for the issuance of 8,064,516 ordinary shares in aggregate, at a purchase price of $2.48 per share . The gross proceeds will be $20,000,000.The purchase price was determined based off of the prior private placement that closed on May 9, 2023. The closing of the Private Placement is anticipated to occur on or about September 5, 2023.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4077":"互动媒体与服务","CN":"Xtrackers MSCI All China Equity ETF","GSMGW":"Cheer Holding Equity Warrant Exp 13 February 2025"},"translate_title":"荣耀之星宣布新一轮2000万美元的战略投资，每股2.48美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CN":1,"GSMG":1,"GSMGW":0.9},"content_text":"BEIJING, Aug. 16, 2023 /PRNewswire/ -- Glory Star New Media Group Holdings Limited, (\"Glory Star\", the \"Company\" or \"we\") (NASDAQ: GSMG), a leading digital media platform and content-driven e-commerce company in China, today announced that it has entered into a Share Subscription Agreement with two new institutional investors, for the issuance of 8,064,516 ordinary shares in aggregate, at a purchase price of $2.48 per share (the \"Private Placement\"). The gross proceeds will be $20,000,000.\nThe purchase price was determined based off of the prior private placement that closed on May 9, 2023. The closing of the Private Placement is anticipated to occur on or about September 5, 2023.\nAbout Glory Star\nAs a preeminent provider of next-generation mobile internet infrastructure services in China, Glory Star is dedicated to building a digital ecosystem that integrates \"platforms, applications, technology, and industry\" into a cohesive system, thereby creating a new, open business environment for web3.0 that leverages AI technology. The Company is developing a 5G+VR+AR+AI shared universe space that builds on cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin.\nGlory Star's portfolio includes a wide range of products and services, such as Polaris Intelligent Cloud, CHEERS Telepathy, CHEERS Open Platform, CHEERS Video, CHEERS e-Mall, CheerReal, CheerCar, CheerChat, CHEERS Fresh Group-Buying E-commerce Platform, Digital Innovation Research Institute, CHEERS Livestreaming, variety show series, IP short video matrix, and more. These offerings provide diverse application scenarios that seamlessly blend \"online/offline\" and \"virtual/reality\" elements.\nWith \"CHEERS+\" at the core of Glory Star's ecosystem, the Company is committed to consolidating and strengthening its core competitiveness, and achieving long-term sustainable and scalable growth.\nFor more information, please visit http://ir.gsmg.co/.\nSafe Harbor Statement\nCertain statements made in this release are \"forward looking statements\" within the meaning of the \"safe harbor\" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \"estimates,\" \"projected,\" \"expects,\" \"anticipates,\" \"forecasts,\" \"plans,\" \"intends,\" \"believes,\" \"seeks,\" \"may,\" \"will,\" \"should,\" \"future,\" \"propose\" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company's ability to continue successful development and launch of its metaverse experience centers; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment and technological developments, competition, changes in regulation, or other economic and policy factors; disruptions or other business interruptions that may affect the operations of our products and services, the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors; other factors, risks and uncertainties set forth in documents filed by the Company with the Securities and Exchange Commission from time to time, including the Company's latest Annual Report on Form 20-F filed with the SEC on March 22, 2023, as amended. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.\nFor investor and media inquiries, please contact:\nWealth Financial Services LLCConnie Kang, PartnerEmail: ckang@wealthfsllc.comTel: +86 1381 185 7742 (CN)\n View original content:https://www.prnewswire.com/news-releases/glory-star-announces-a-new-round-of-20-million-strategic-investment-at-2-48-per-share-301901812.html\nSOURCE Glory Star New Media Group Holdings Limited","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2359638337"}