Svmuu News: Zeta Network Group (NASDAQ: ZNB), a digital infrastructure and fintech company, announced that it has entered into a securities purchase agreement with institutional investors to issue up to $10 million in 10% senior convertible promissory notes and warrants with a 10% initial issuance discount. The first tranche of this offering involves $6 million in notes, expected to generate total proceeds of $5.4 million for the company, with the closing date scheduled for around March 12, 2024. This date also marks the effective date of the company’s previously announced 1-for-100 stock consolidation at Nasdaq.The notes are non-interest-bearing and are immediately convertible into Class A common stock upon issuance. Additionally, the second tranche of the remaining notes is expected to be delivered no earlier than May 12, 2024.Zeta Network Group is currently focused on developing an institutional financial platform centered around Bitcoin, with business operations spanning digital asset wealth management, Bitcoin liquidity aggregation, and sustainable mining. (PR Newswire)