ChinaNet Online Holdings, Inc. (NASDAQ:CNET) Files An 8-K Other Events

ChinaNet Online Holdings, Inc. (NASDAQ:CNET) Files An 8-K Other Events
Item 8.01. Other Events.

Story continues below

On January 18, 2018, ChinaNet Online Holdings, Inc. (the “Company”) issued a press release announcing that it consummated a registered direct offering of 2,150,001 shares of common stock of the Company to three institutional investors at a purchase price of $5.15 per share. As part of the transaction, the Company also issued to the investors warrants for the purchase of up to 645,000 shares of common stock of the Company at an exercise price of $6.60 per share, which warrants have a term of 30 months from the date of issuance. The closing took place on January 17, 2018 and the Company received gross proceeds of approximately $11.1 million.

The Company’s press release is filed as Exhibit 99.1 to this Current Report and is incorporated herein by reference. The opinion of Loeb & Loeb LLP, the Company’s counsel, regarding the legality of the shares of common stock and warrants that will be issued in the offering is also filed herewith as Exhibit 5.1.

Item 9.01. Financial Statements and Exhibits.


ChinaNet Online Holdings, Inc. Exhibit
EX-5.1 2 exh_51.htm EXHIBIT 5.1 EXHIBIT 5.1         345 Park Avenue New York,…
To view the full exhibit click here

About ChinaNet Online Holdings, Inc. (NASDAQ:CNET)

ChinaNet Online Holdings, Inc. is a holding company that conducts its primary businesses through its subsidiaries and operating entities (the variable interest entities (VIEs)). The Company is a business-to-businesses (B2B), integrated Internet technology company providing online-to-offline (O2O) sales channel expansion, precision marketing and the related data services for small and medium-sized enterprises, and entrepreneurial management and networking services for entrepreneurs in the People’s Republic of China. Its segments include Internet advertising and TV advertising. Its services include preparing and publishing media enabled advertising and marketing campaigns for clients on the Internet, mobile phone, television and other communication channels; hosting mini-sites with online messaging and consulting functionalities; providing search engine marketing services; providing data services, and providing social networking and information sharing services to entrepreneurs.

An ad to help with our costs