BEIJING, March 14, 2024 /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 March 13, 2024, 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:
- BEIJING, March 14, 2024 /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 March 13, 2024, 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 November 27, 2023, the Nasdaq notified the Company of its non-compliance with the Nasdaq's minimum bid price requirement because, as of November 24, 2023, 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 May 28, 2024, 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 February 28 through March 12, 2024, 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.
BEIJING, March 11, 2024 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. (the "Company") (Nasdaq: ANTE), today announced changes in its board of directors (the "Board").
Key Points:
- BEIJING, March 11, 2024 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. (the "Company") (Nasdaq: ANTE), today announced changes in its board of directors (the "Board").
- Ms. Tong Lin has been appointed as an independent director of the Board, a member of each of the audit committee and the compensation committee of the Board, and the chairperson and a member of the compliance committee of the Board, effective from March 8, 2024.
- Upon the effectiveness of the above-mentioned changes, the Board will consist of five directors, including three independent directors, and each of the audit committee, the compensation committee and the compliance committee of the Board will consist of Mr. Songzuo Xiang, Mr. Shirong Tong and Ms. Tong Lin.
- Mr. Songzuo Xiang is the chairperson of the audit committee of the Board, Mr. Shirong Tong will be the chairperson of the compensation committee and Mr. Tong Lin will be the chairperson of the compliance committee.
Retrieved on:
Wednesday, February 21, 2024
BEIJING, Feb. 21, 2024 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. (the "Company") (Nasdaq: ANTE), today announced changes in its senior management team.
Key Points:
- BEIJING, Feb. 21, 2024 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. (the "Company") (Nasdaq: ANTE), today announced changes in its senior management team.
- Ms. Fuying Yan has been appointed as the Company's co-chief executive officer and director of the Board, effective from February 20, 2024.
- Upon the effectiveness of the above-mentioned changes, the Board will consist of six directors, including four independent directors.
- "I am thrilled to welcome Ms. Yan and Mr. Tong to our senior management team," commented Mr. Herman Man Guo, the chairman of the Board and interim chief financial officer of the Company.
The Deficiency Letter does not result in the immediate delisting of the Company’s ordinary shares represented by American depositary shares on the Nasdaq Capital Market.
Key Points:
- The Deficiency Letter does not result in the immediate delisting of the Company’s ordinary shares represented by American depositary shares on the Nasdaq Capital Market.
- The Company has 45 calendar days from the date of the Deficiency Letter, or until February 12, 2024, to submit a plan (the “Compliance Plan”) to Nasdaq to regain compliance with the minimum stockholders’ equity standard.
- If the Compliance Plan is accepted by Nasdaq, the Company may be granted a compliance period of up to 180 calendar days from the date of the Deficiency Letter to evidence compliance.
- This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.
Retrieved on:
Tuesday, December 26, 2023
These conditions raise substantial doubt about the Group’s ability to continue as a going concern.
Key Points:
- These conditions raise substantial doubt about the Group’s ability to continue as a going concern.
- The Group plans to strengthen the air travel media network business to drive its revenues and bring in cash to keep operation.
- As a result, management prepared the consolidated financial statements assuming the Group will continue as a going concern.
- The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
The Notification Letter has no immediate impact on the Company’s listing on the Nasdaq Capital Market.
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 May 28, 2024 (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 May 28, 2024, the Company may be eligible for additional time to regain compliance or may face delisting.
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.
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.
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.
U.S. Securities and Exchange Commission,
ADS,
Nasdaq,
Private Securities Litigation Reform Act,
Company,
Face,
Letter,
AirNet Express,
Forward-looking statement,
Calendar,
Terminology,
Compliance,
Auction 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.
