AirNet Express

AirNet Announces Termination of Investment Agreement

Retrieved on: 
Monday, June 26, 2023

BEIJING, June 26, 2023 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it has entered into a termination agreement (the "Termination Agreement") on June 21, 2023 with Unistar Group Holdings Ltd. ("Unistar Group"), Northern Shore Group Limited ("Northern Shore"), Mr. Herman Man Guo, chairman of the Company, and Mrs. Dan Shao, chief executive officer of the Company to terminate the investment agreement (the "Investment Agreement") entered into among the parties on April 6, 2022 and the transactions contemplated thereunder.

Key Points: 
  • BEIJING, June 26, 2023 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it has entered into a termination agreement (the "Termination Agreement") on June 21, 2023 with Unistar Group Holdings Ltd. ("Unistar Group"), Northern Shore Group Limited ("Northern Shore"), Mr. Herman Man Guo, chairman of the Company, and Mrs. Dan Shao, chief executive officer of the Company to terminate the investment agreement (the "Investment Agreement") entered into among the parties on April 6, 2022 and the transactions contemplated thereunder.
  • Pursuant to the Investment Agreement, the Company shall issue certain shares to Unistar Group and Northern Shore in exchange for the delivery and transfer of 5,000 ANTMINER S19 and 2,000 INNO A11 computer servers.
  • After deliberate communication, the parties have reached an agreement to terminate the Investment Agreement and the transactions contemplated thereunder.
  • Descriptions in this press release of the Termination Agreement, the terms and conditions thereof and the transactions contemplated thereunder are qualified in their entirety by reference to the Termination Agreement, a copy of which is attached as an exhibit to the Form 6-K furnished by the Company with the SEC on June 26, 2023 and incorporated herein by reference in its entirety.

AirNet Regains Compliance with Nasdaq Minimum Bid Price Requirement

Retrieved on: 
Thursday, December 29, 2022

HOUSTON, Dec. 29, 2022 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it received a notification letter (the "Notification Letter on Compliance") from the Listing Qualifications Department of The Nasdaq Stock Market Inc. ("Nasdaq") on December 27, 2022, indicating that the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules.

Key Points: 
  • HOUSTON, Dec. 29, 2022 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it received a notification letter (the "Notification Letter on Compliance") from the Listing Qualifications Department of The Nasdaq Stock Market Inc. ("Nasdaq") on December 27, 2022, indicating that the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules.
  • As previously announced, on October 20, 2022, the Nasdaq notified the Company of its non-compliance with the Nasdaq's minimum bid price requirement because, as of October 20, 2022, the Company's closing bid price per American depositary share ("ADS") was less than US$1.00 per ADS over the previous 30 consecutive business days.
  • Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until April 18, 2023, to regain compliance with Nasdaq's minimum bid price requirement.
  • According to the Notification Letter on Compliance, the staff of Nasdaq has determined that for the last 10 consecutive business days, from December 12, 2022 through December 23, 2022, the closing bid price of the Company's ADSs had been at $1.00 per ADS or greater, and the Company has regained compliance with Rule 5550(a)(2) of the Nasdaq Listing Rules.

AirNet Announces Results of Extraordinary General Meeting and ADS Ratio Change

Retrieved on: 
Wednesday, November 30, 2022

HOUSTON, Nov. 30, 2022 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it held an extraordinary general meeting of shareholders on November 30, 2022.

Key Points: 
  • HOUSTON, Nov. 30, 2022 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it held an extraordinary general meeting of shareholders on November 30, 2022.
  • The Share Consolidation will be effective at 5:00 P.M., on December 9, 2022 (U.S. Eastern time).
  • No physical action by ADS holders will be required to effect the ratio change, as the change will be effected on the books of the depositary.
  • The effect of the ratio change on the ADS trading price on the Nasdaq Capital Market is expected to take place at the open of business on December 12, 2022.

AirNet Announces Receipt of Minimum Bid Price Notice from Nasdaq

Retrieved on: 
Monday, October 24, 2022

The Notification Letter has no immediate impact on the Company's listing on the Nasdaq Capital Market.Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until April 18, 2023 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement.

Key Points: 
  • The Notification Letter has no immediate impact on the Company's listing on the Nasdaq Capital Market.Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until April 18, 2023 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement.
  • If at any time during the Compliance Period, the closing bid price per ADS is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.
  • If the Company does not regain compliance by April 18, 2023, the Company may be eligible for additional time to regain compliance or may face delisting.
  • This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S.

AirNet Announces Changes in Management and Board of Directors

Retrieved on: 
Friday, September 9, 2022

HOUSTON, Sept. 9, 2022 /PRNewswire/ --AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced changes in its board of directors (the "Board") and management.

Key Points: 
  • HOUSTON, Sept. 9, 2022 /PRNewswire/ --AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced changes in its board of directors (the "Board") and management.
  • Mr. Guo will continue to serve as the chairman of the Board and interim chief financial officer of the Company.
  • The Board has also nominated and appointed Ms. Shao as a director of the Board, effective from September 9, 2022.
  • Shao'sappointment, the Board will consist of six directors, including three independent directors.

AirNet Entered Into Investment Agreement With Unistar Group Holdings Ltd.

Retrieved on: 
Wednesday, April 6, 2022

HOUSTON, April 6, 2022 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it has entered into an investment agreement (the "Agreement") with Unistar Group Holdings Ltd. ("Unistar Group"), Mr. Herman Man Guo, the chairman and chief executive officer of the Company, and Ms. Dan Shao, Mr. Guo's spouse.

Key Points: 
  • HOUSTON, April 6, 2022 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), today announced that it has entered into an investment agreement (the "Agreement") with Unistar Group Holdings Ltd. ("Unistar Group"), Mr. Herman Man Guo, the chairman and chief executive officer of the Company, and Ms. Dan Shao, Mr. Guo's spouse.
  • Pursuant to the Agreement, the Warrants are exercisable in three tranches if and when the market capitalization of the Company equals or exceeds US$500 million, US$1 billion and US$1.5 billion, respectively.
  • Furthermore, pursuant to the Agreement, Unistar Group shall have the rights to nominate new members of the board of directors of the Company as replacements for the then-existing directors of the Company.
  • The transactions contemplated under the Agreement are expected to be completed in the first half of 2022, subject to certain closing conditions set forth therein.

AirNet Announces Change of Auditor

Retrieved on: 
Tuesday, January 4, 2022

The change of the Company's independent auditor was made after careful consideration and evaluation process and was approved by the board of directors of the Company (the "Board") and the audit committee of the Board.

Key Points: 
  • The change of the Company's independent auditor was made after careful consideration and evaluation process and was approved by the board of directors of the Company (the "Board") and the audit committee of the Board.
  • The Company is working closely with Audit Alliance and MBP to ensure a seamless transition.
  • This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S.
  • Further information is included in the Company's filings with the U.S. Securities and Exchange Commission.

AirNet Announces Changes in Management

Retrieved on: 
Thursday, March 11, 2021

BEIJING, March 11, 2021 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia inChina,today announced a change in its management.

Key Points: 
  • BEIJING, March 11, 2021 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia inChina,today announced a change in its management.
  • Mr. Xin Li has tendered his resignation as the chief financial officer of the Company, effective from March 5, 2021.
  • Furthermore, the Board has approved a consultancy agreement engaging Mr. Li as a consultant to the Company until September 4, 2021.
  • Incorporated in 2007 and headquartered inBeijing,China, AirNet provides in-flight solutions to connectivity, entertainment and digital multimedia inChina.

AirNet Entered Into Investment Agreement With Northern Shore Group Ltd.

Retrieved on: 
Friday, February 5, 2021

BEIJING, Feb. 5, 2021 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia inChina, today announced that on February 4, 2021, it has entered into an investment agreement (the "Agreement") with Northern Shore Group Ltd. ("Northern Shore"), an unaffiliated party of the Company.

Key Points: 
  • BEIJING, Feb. 5, 2021 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia inChina, today announced that on February 4, 2021, it has entered into an investment agreement (the "Agreement") with Northern Shore Group Ltd. ("Northern Shore"), an unaffiliated party of the Company.
  • The computer servers are valued at US$ 5,540,497.19, representing a per Share consideration of US$0.195, or US$1.95 per American depositary share of the Company (each representing ten Shares).
  • Incorporated in 2007 and headquartered inBeijing,China, AirNet provides in-flight solutions to connectivity, entertainment and digital multimedia inChina.
  • Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements.

AirNet Files Annual Report on Form 20-F

Retrieved on: 
Tuesday, September 15, 2020

BEIJING, Sept.15, 2020 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 (the "annual report") with the U.S. Securities and Exchange Commission (the "SEC") on September 14, 2020.

Key Points: 
  • BEIJING, Sept.15, 2020 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 (the "annual report") with the U.S. Securities and Exchange Commission (the "SEC") on September 14, 2020.
  • The annual report can be accessed on the SEC's website at http://www.sec.gov as well as through the Company's investor relations website at http://ir.ihangmei.com .
  • The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.
  • Incorporated in 2007 and headquartered in Beijing, China, AirNet provides in-flight solutions to connectivity, entertainment and digital multimedia in China.