ChinaNet Online Holdings, Inc. Launches Warrant Exchange Offer
December 01 2011 - 4:20PM
ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company"), a
leading full-service media development, advertising and
communications company for small and medium-sized enterprises
(SMEs) in the People's Republic of China, announced today that the
Company has initiated an exchange offer (the "Offer") pursuant to
which holders of all the Company's outstanding warrants (the
"Warrants") to purchase an aggregate of 4,121,600 shares of the
Company's common stock have the opportunity to acquire shares of
the Company's common stock (the "Shares") through a warrant for
share exchange.
The Company will issue the Shares in exchange for the Warrants
in accordance with the following exchange ratios: (A) with respect
to any Series A-1 Warrant, one (1) Share in exchange for every
twenty (20) Shares for which such Series A-1 Warrant is
exercisable, and (B) with respect to any Series A-2 Warrant, one
(1) Share in exchange for every ten (10) Shares for which such
Series A-2 Warrant is exercisable; provided that each holder must
exchange all its Series A-1 Warrants and/or all its Series A-2
Warrants pursuant to the terms and conditions thereof.
The Offer will continue for a period of twenty (20) business
days from the date of this release and will expire on December 30,
2011, at 5:00 p.m., Eastern Time, or for such additional time as is
required under applicable law.
The terms and conditions of the Offer are set forth in the
documentation distributed to holders of the Warrants. You may email
any questions or requests for documentation related to the offer to
Yasmine Wei at yasminewei@chinanet-online.com.
The foregoing reference to the offer and any other related
transactions shall not constitute an offer to buy or exchange
securities or constitute the solicitation of an offer to sell or
exchange any securities in the Company or any of its
subsidiaries.
Investors and security holders are urged to read the Schedule TO
and the exhibits to the Schedule TO filed with the SEC, as amended
from time to time, relating to the offer as they contain important
information. These and any other documents relating to the offer,
when they are filed with the SEC, may be obtained at the SEC's
website at www.sec.gov, or from the contact person as noted
above.
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group
Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B
(business to business) Internet technology company focusing on
providing O2O (online to offline) sales channel expansion service
for small and medium-sized enterprises (SMEs) and entrepreneurial
management and networking service for entrepreneurs in China. The
Company, through certain contractual arrangements with operating
companies in the PRC, provides Internet advertising and other
services for Chinese SMEs via its portal websites, 28.com,
Liansuo.com and Chuangye.com, TV commercials and program production
via China-Net TV, and in-house LCD advertising on banking kiosks
targeting Chinese banking patrons. Website:
http://www.chinanet-online.com.
Safe Harbor
This release contains certain "forward-looking statements"
relating to the business of ChinaNet Online Holdings, Inc., which
can be identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "estimates" or similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand,
reliance on key personnel, future capital requirements, competition
in general and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These
forward-looking statements are based on ChinaNet's current
expectations and beliefs concerning future developments and their
potential effects on the Company. There can be no assurance that
future developments affecting ChinaNet will be those anticipated by
ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. ChinaNet undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
CONTACT: MZ North America
Ted Haberfield, President
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
Web: www.mz-ir.com
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