ChinaNet Online Holdings, Inc. (NASDAQ:CNET) Files An 8-K Other Events
Item 8.01
On October 28, 2019, ChinaNet Online Holdings, Inc. (the “Company”) closed on the second half of a private placement with a select group of investors (the “Investors”) related the Securities Purchase Agreement entered into on August 7, 2019. In connection with the closing, the Company issued 1,608,430 shares of common stock (the “Shares”) in consideration for $2.4 million. Each Share was sold to the Investors at $1.4927 per Share. The private placement was conducted to Section 4(2) of the Securities Act of 1933, as amended, and Regulation S promulgated thereunder.
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.