 BEIJING, Feb. 16, 2021 GLOBE NEWSWIRE -- ZW Data Action Technologies Inc.NASDAQ:CNET ZW Data or the Company, an integrated online advertising, precision marketing and data analytics and other value-added services company, today announced that it has entered into a securities purchase agreement with several institutional investors for a registered direct placement of approximately 18.7 million of shares of common stock of the Company at a price of 3.59 per share. The price was set at market price in accordance with the rules of Nasdaq. The Company will issue a total of 5,212,000 shares of common stock to the institutional investors. The Company also completed a concurrent private placement of warrants to purchase shares of common stock to the same institutional investors. Warrants to purchase up to 2,606,000 shares of common stock at an exercise price of 3.59 per share, which warrants will have a term of three and one-half years and not be exercisable for the first six months from the date of issuance. 