ZW Data Action Technologies Inc. Announces Reverse Stock Split
September 25, 2024
ZW Data Action Technologies Inc. (Nasdaq: CNET) (“ZW Data” or the “Company”), a leading integrated online advertising, precision marketing, data analytics, and other value-added services company, made a significant announcement today regarding its common stock.
The Company’s Board of Directors has approved a reverse stock split of its common stock, par value $0.001 per share, at a ratio of 1-for-4. This means that for every 4 shares of Common Stock held, shareholders will receive 1 share after the Reverse Stock Split.
The Reverse Stock Split is scheduled to take effect on September 30, 2024. Following the split, the Company’s shares will continue to trade on Nasdaq under the existing trading symbol “CNET.” The new CUSIP number for the Company’s stock following the Reverse Stock Split will be 98880R 307.
This strategic move by ZW Data aims to enhance the Company’s stock value and attract new investors, ultimately benefiting its shareholders and stakeholders. The Board of Directors believes that the Reverse Stock Split will position ZW Data for continued growth and success in the competitive market landscape.
Impact on Shareholders
As a shareholder of ZW Data Action Technologies Inc., the Reverse Stock Split will affect you by consolidating your shares at a ratio of 1-for-4. While the number of shares you hold will decrease, the value of each share will proportionately increase. This could potentially lead to a higher stock price, making your investment more attractive in the eyes of investors.
Impact on the World
The Reverse Stock Split announced by ZW Data reflects the Company’s commitment to sustainable growth and long-term value creation. By consolidating its shares, ZW Data aims to streamline its stock structure and enhance shareholder value. This move could also generate positive attention from the investment community, showcasing ZW Data as a strong player in the online advertising and data analytics industry.
Conclusion
In conclusion, the Reverse Stock Split approved by ZW Data Action Technologies Inc. marks a significant milestone for the Company and its stakeholders. This strategic decision reflects ZW Data’s dedication to enhancing shareholder value and attracting new investors. As the Reverse Stock Split takes effect on September 30, 2024, shareholders can look forward to potential growth and increased market value for their investments.
