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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________
FORM
8-K
CURRENT
REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): March 26,
2026
ZW
Data Action Technologies Inc.
(Exact
Name of Registrant as Specified in Charter)
Nevada |
|
001-34647 |
|
20-4672080 |
(State
or Other Jurisdiction of Incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer Identification No.) |
|
8/F, 29 Des Voeux Road Central, Central,
Hong Kong Special Administrative Region of the People’s Republic of China |
|
(Address of Principal Executive Offices and Zip Code)
|
Registrant’s telephone number, including area code:
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
☐ |
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check
mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.001 |
|
CNET |
|
NASDAQ
Capital Market |
Item 3.01.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
March 26, 2026, ZW Data Action Technologies Inc., a Nevada corporation (the “Company”) received a notice in the form of a
letter (“Deficiency Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock
Market LLC (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid
price for the Company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days (the “Minimum
Bid Price Requirement”).
The
Nasdaq Deficiency Letter has no immediate effect on the listing of the Company’s common stock, and its common stock will continue
to trade on The Nasdaq Capital Market under the symbol “CNET” at this time.
In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until September 22, 2026, to regain
compliance with the Minimum Bid Price Requirement. If at any time before September 22, 2026, the bid price of the Company’s common
stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that
the Company has achieved compliance.
In
the event the Company does not regain compliance, the Company may be eligible for additional time. To qualify, the Company will be required
to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq
Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the
deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements,
the Staff will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to Staff that the
Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Staff will provide notice that its
securities will be subject to delisting.
If
the Company does not regain compliance by September 22, 2026, the Nasdaq Staff will provide written notice to the Company that its securities
are subject to delisting. At that time, the Company may appeal any such delisting determination to a Nasdaq hearings panel.
The
Company intends to actively monitor the closing bid price for the Company’s common stock between now and September 22, 2026 and
may, if appropriate, evaluate available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement.
While the Company is exercising diligent efforts to maintain the listing of its common stock on Nasdaq, there can be no assurance that
the Company will be able to regain or maintain compliance with Nasdaq listing standards.
The
Company, by filing this Form 8-K, discloses its receipt of the Nasdaq Deficiency Letter regarding the Minimum Bid Price Requirement in
accordance with Nasdaq Listing Rule 5810(b).
Forward
Looking Statements
Certain
information contained in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as “will,” “would,”
“may,” “intends,” “potential,” and similar expressions, or the use of future tense, identify forward-looking
statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees
of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be
no assurance that the Company will regain compliance with the Rule during any compliance period or in the future, or otherwise meet Nasdaq
compliance standards, that the Company will be eligible for a second compliance period, or that Nasdaq will grant the Company any relief
from delisting as necessary or that the Company can ultimately meet applicable Nasdaq requirements for any such relief. The forward-looking
statements contained in this report speak only as of the date of this report and the Company undertakes no obligation to publicly update
any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required
by law.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
ZW
DATA ACTION TECHNOLOGIES INC. |
|
|
Dated:
March 27, 2026 |
|
|
|
|
|
By: |
/s/
Handong Cheng |
|
|
Name:
Handong Cheng |
|
|
Title:
Chief Executive Officer and Acting Chief Financial Officer |
