AirNet Announces Termination of Investment Agreement
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.
- 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.