- ZW Data Action Technologies (CNET -3.8%) entered into a securities purchase agreement with several institutional investors for a registered direct placement of ~$18.7M shares at $3.59/share.
- The company will issue 5.2M shares.
- It also completed a concurrent private placement of warrants to purchase shares; warrants to purchase 2.6M shares.
- Proceeds of ~$17.1M to be used for general working capital purposes; if warrants exercised the company will receive additional proceeds of ~$9.4M.
- Placement completion is expected to occur on or about Feb.18.
ZW Data Action Technologies prices $18.7M registered direct offering
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Symbol | Last Price | % Chg |
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CNET | - | - |
ZW Data Action Technologies Inc. |