ChinaNet Online Holdings, Inc. Announces Results for Its Warrants Exchange Offer
ChinaNet Online Holdings, Inc. (Nasdaq: CNET), announced today the final results of its exchange offer (the "Offer"), pursuant to which holders of all 4,121,600 of the Company's outstanding warrants (the "Warrants") had the opportunity to acquire the Company's shares of common stock (the "Shares") through a warrant for share exchange 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 10 (ten) Shares for which such Series A-2 Warrant is exercisable; provided that each holder must have exchanged all its Series A-1 Warrants and/or all its Series A-2 Warrants pursuant to the terms and conditions thereof.
