Pop Culture Group Co Ltd (NASDAQ:CPOP), a Chinese pop‑culture company headquartered in Xiamen, announced a direct offering priced at $0.15 per share, raising approximately $8 million. The transaction involves the sale of 53,333,333 Class A ordinary shares to an institutional investor and includes pre‑funded warrants, each granting the holder the right to purchase one additional share. Univest Securities, LLC is serving as the sole placement agent for the offering. The company expects the offering to close on or about June 15, 2026, subject to customary closing conditions. Following the pricing announcement, Pop Culture Group’s shares plunged 75% on Friday, reflecting a sharp market reaction to the dilutive nature of the issuance. The company’s business focuses on promoting Chinese pop culture, facilitating cultural exchanges between the United States and China, hosting entertainment events, operating online pop‑culture programs, and providing event‑planning and brand‑promotion services to corporate clients.