Glory Star New Media Group Holdings Ltd (GSMG)

[TheFinalCD]

On August 16, 2023, Glory Star New Media Group Holdings Limited (the “Company”) entered into a Share Subscription Agreement (the “Subscription Agreement”) with two (2) accredited investors (the “Investors”), each of whom represented that it was a “non-U.S. Persons” as defined in Regulation S of the Securities Act of 1933, as amended (the “Securities Act”).



Pursuant to the Subscription Agreement, the Company agreed to issue and sell to the Investors an aggregate of 8,064,516 ordinary shares of the Company, par value $0.0001 (the “Shares”), at a price per share of $2.48 (the “Private Placement”). The gross proceeds from the Private Placement will be $20,000,000. The closing of the Private Placement is anticipated to occur on or about September 5, 2023.