Zeta Network Group has announced a significant financial restructuring involving the conversion of its outstanding convertible notes. The company reached an agreement with its noteholders to settle the principal balances of the notes through a one-time conversion process. Under the terms of the agreement, the noteholders will receive Class A ordinary shares at a fixed conversion price of US$1.15 per share, effectively extinguishing the existing debt. This strategic move aims to streamline Zeta Network Group's financial obligations and enhance its capital structure. The conversion marks a pivotal step in the company's efforts to optimize its financial health and align interests with its stakeholders.
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