 BEIJING, Dec. 10, 2020 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 three institutional investors for a registered direct placement of approximately 7.0 million of shares of common stock of the Company at a price of 1.62 per share. The Company will issue a total of 4,320,988 shares of common stock to the institutional investors. As part of the transaction, the Company will also issue to the investors warrants to purchase up to 1,728,395 shares of common stock at an exercise price of 2.03 per share, which warrants will have a term of three years and not be exercisable for the first six months from the date of issuance. 