Core Points - AirNet Technology Inc. has entered into a definitive agreement for the purchase and sale of 80,826,225 ordinary shares and accompanying warrants at a combined purchase price of $2.227 per share and warrant [1] - The gross proceeds from the offering are expected to be approximately $180.0 million before deducting offering expenses [1] - The offering is expected to close on or about August 27, 2025, subject to customary closing conditions [1] Financial Details - The warrants are immediately exercisable at an exercise price of $3.3405 per ordinary share and will expire five years from the date of issuance [1] - The net proceeds from the offering will be used for general corporate and working capital purposes [2] Regulatory Information - The securities will be offered pursuant to an effective "shelf" registration statement on Form F-3 previously filed with the SEC [3] - Additional information regarding the offering will be included in a current report on Form 6-K to be furnished by the Company to the SEC [2][3]

| 代码 | 名称 | 最新价 | 涨跌幅 ^ | 涨跌额 | 成交额 | | --- | --- | --- | --- | --- | --- | | STFS | 星际时尚 | 0.1999 | -54.05% | -0.2351 | 425.23万 | | QH | 趣活 | 0.0620 | -40.21% | -0.0417 | 151.89万 | | SUGP | 荣志集团 | 0.4040 | -30.34% | -0.1760 | 20.88万 | | ZYBT | 正业生物 | 6.700 | -29.40% | -2.790 | 391.58万 | | ANTE | AirNet Technology | 2.200 | -26.91% | -0.810 | 244.48万 | 中概股收盘跌幅前五的个股为：星际时尚跌54.05%，趣活跌40.21%，荣志集团跌30.34%，正业生物跌 29.4%，AirNet Technology跌26.91%。(格隆汇) ...

| 代码 | 名称 | 最新价 | 涨跌幅 ^ | 涨跌额 | 成交额 | | --- | --- | --- | --- | --- | --- | | MIMI | Mint | 5.660 | -33.18% | -2.810 | 1760.69万 | | EJH | e家快服 | 1.100 | -21.15% | -0.295 | 51.47万 | | MENS | 健永生技 | 40.410 | -18.46% | -9.150 | 1375.47万 | | ANTE | AirNet Technology | 2.800 | -17.77% | -0.605 | 196.45万 | | ADAG | 天演药业 | 1.910 | -16.59% | -0.380 | 33.98万 | 中概股收盘跌幅前五的个股为：Mint跌33.18%，e家快服跌21.15%，健永生技跌18.46%，AirNet Technology跌17.77%，天演药业跌16.59%。(格隆汇) ...

Group 1 - The top five gainers among Chinese concept stocks include LZMH (Linkage Technology Holdings) with a rise of 44.62%, BTOG (Bit Origin) up by 28.07%, ANTE (AirNet Technology) increasing by 18.99%, MSC (Melco Resorts) gaining 18.78%, and XTKG (X3 Holdings) rising by 14.77% [1] - LZMH's latest price is 3.760 with a gain of 1.160 and a trading volume of 11.88 million [1] - BTOG's latest price is 0.4270 with a gain of 0.0936 and a trading volume of 61.25 million [1] Group 2 - ANTE's latest price is 2.820 with a gain of 0.450 and a trading volume of 1.53 million [1] - MSC's latest price is 5.155 with a gain of 0.815 and a trading volume of 0.1296 million [1] - XTKG's latest price is 2.370 with a gain of 0.305 and a trading volume of 0.4721 million [1]

Core Points - AirNet Technology Inc. has regained compliance with Nasdaq Listing Rule 5550(a)(2) as of July 24, 2025, after maintaining a minimum bid price of $1.00 per share for 10 consecutive business days from July 10 to July 23, 2025 [1][2] Group 1 - The formal notification from Nasdaq confirms that the bid price deficiency matter for AirNet is now closed [2] - The ordinary shares of AirNet, with a par value of $0.04 each, are now compliant with the minimum bid price requirement [1][2]

Core Points - AirNet Technology Inc. has received a notification from Nasdaq indicating non-compliance with the minimum stockholders' equity requirement of $2,500,000 as per Nasdaq Listing Rule 5550(b)(1) [1] - The company's reported stockholders' equity in its Form 20-F for the year ended December 31, 2024, is below the required threshold [1] - AirNet does not meet alternative compliance standards based on market value of listed securities or net income from continuing operations [1] Compliance Plan - The notification does not have an immediate effect on the listing of the company's American depositary shares on Nasdaq [2] - AirNet has until June 27, 2025, to submit a plan to regain compliance with the minimum stockholders' equity standard [2] - If the plan is accepted by Nasdaq, the company may receive an extension of up to 180 calendar days from the date of the notification letter [2] Disclosure - The press release is filed in accordance with Nasdaq Listing Rule 5815(a) to disclose the receipt of the notification [3]

Company Structure and Operations - AirNet Technology Inc. is a Cayman Islands holding company with no substantive operations, controlling its business through subsidiaries and consolidated affiliated entities[21]. - AirNet Online holds an 80% stake in AirNet Online, which controls various subsidiaries and VIEs through contractual arrangements[18]. - AirNet Technology Inc. does not own any shares in the consolidated affiliated entities, relying instead on contractual arrangements for control[23]. - The company operates under a VIE structure, which poses unique risks, including potential penalties from the PRC government if contractual arrangements are deemed non-compliant[32]. - The VIE agreements allow AirNet Technology Inc. to consolidate financial results and receive economic benefits from the VIEs[33]. - The company operates primarily through contractual arrangements with VIEs in China, including AirNet Online, Linghang Shengshi, and Iwangfan[117]. - The company intends to gradually shift its advertising business to Shenzhen Yuehang to reduce reliance on the current VIE structure[117]. Financial Performance - For the year ended December 31, 2022, AirNet Technology Inc. reported net revenues of US$2.868 million and a gross loss of US$2.355 million[37]. - For the year ended December 31, 2023, net revenues decreased to US$0.858 million with a gross loss of US$0.518 million[37]. - For the year ended December 31, 2024, net revenues further declined to US$0.343 million with a gross profit of US$0.037 million[37]. - The operating loss for the year ended December 31, 2022, was US$14.079 million, while for 2023 it was US$4.055 million, and for 2024 it was US$6.780 million[37][38]. - AirNet Technology Inc. has not paid any dividends and does not plan to do so in the foreseeable future, intending to retain available funds for business operations and expansion[31]. - The total shareholders' equity decreased from $11,849,000 as of December 31, 2023, to $10,927,000 as of December 31, 2024, reflecting a decline of approximately 7.8%[39]. - The company incurred net losses in recent years, with a recorded net income in 2020, but may continue to incur losses in the future due to fixed costs associated with concession fees and fluctuating revenues[64]. Cash Flow and Financing - Cash flows can be transferred among AirNet Technology Inc., its PRC subsidiaries, and consolidated affiliated entities through dividends, service fees, and loans[29]. - Net cash used in operating activities for the year ended December 31, 2023, was $(1,817,000), compared to a net cash provided of $752,000 in 2022[40]. - Net cash provided by financing activities decreased from $1,212,000 in 2022 to $(1,222,000) in 2023, showing a shift of approximately 201.2%[40]. - As of December 31, 2024, the company reported net cash provided by operating activities of $22,721,000, a significant recovery from the previous year[40]. - The company may need to raise additional debt or sell equity securities for future acquisitions, which could increase financial obligations and dilute shareholder value[97]. - The company may require additional capital due to changing business conditions, which could result in dilution of shares or increased debt service obligations[104]. Regulatory and Compliance Risks - The company is subject to risks under the Holding Foreign Companies Accountable Act (HFCAA), which could lead to delisting if identified as a "Commission-Identified Issuer" for two consecutive years[26]. - The PCAOB has secured complete access to inspect and investigate registered public accounting firms in mainland China and Hong Kong, which may alleviate some compliance risks[26]. - The company is subject to new regulations regarding overseas listings, which may require future filings with the CSRC for follow-on offerings[45]. - The company is subject to new cybersecurity regulations, which may require compliance and could lead to increased costs[144][146]. - Compliance with PRC laws and regulations is costly, and failure to comply could result in government sanctions, including fines and revocation of advertising licenses[107]. - The PRC tax authorities may require adjustments to taxable income that could adversely affect the ability of subsidiaries to pay dividends[131]. Market and Economic Conditions - The demand for air travel significantly influences the company's results, with fluctuations linked to economic conditions and seasonal factors[94]. - The company faces significant competition in the advertising industry, which could reduce operating margins and profitability[92]. - A severe downturn in the global or Chinese economy could materially affect the company's financial condition and results of operations[147]. - Economic growth in China has been uneven and is expected to slow down, which may adversely affect the company's business and financial condition[148]. Operational Challenges - The company has faced significant operational challenges, including the need to attract advertisers and manage costs effectively, which could adversely affect its business and financial condition[69]. - The company has terminated its advertising service at long-haul buses and gas stations, and ceased operations for Wi-Fi services on trains, focusing instead on in-flight content and connectivity[66]. - The company began exploring the in-flight business in 2018, which has been adversely affected by COVID-19, impacting future growth prospects[74]. - The company's ability to generate sufficient cash flow is dependent on the acceptance of its air travel media network by advertisers and the viewing public[71]. Legal and Governance Issues - The company has identified material weaknesses in its internal control over financial reporting as of December 31, 2024, which could lead to inaccurate financial reporting and loss of investor confidence[103]. - The company has not maintained effective internal control over financial reporting and disclosure controls, which could negatively impact the reliability of its financial information[102]. - The company's directors have discretion over the inspection of corporate records, which may hinder shareholders' ability to obtain necessary information[209]. - The company's corporate governance practices may differ significantly from U.S. requirements, potentially affording shareholders less protection[210]. Currency and Foreign Exchange Risks - Fluctuations in the value of the Renminbi may materially affect the company's revenues, earnings, and financial position, as most transactions are denominated in Renminbi[163][164]. - Limited hedging options are available in China to mitigate foreign currency exchange risk, which may lead to significant currency exchange losses[165]. - Currency exchange restrictions may limit the company's ability to utilize cash held in mainland China or generated by a PRC entity for operations outside of mainland China or for paying dividends in foreign currencies[166]. Shareholder and Market Concerns - The trading price of the company's American Depositary Shares (ADSs) has been volatile, and failure to comply with Nasdaq listing requirements could lead to delisting[66]. - The trading price of the company's ADSs has been volatile, ranging from $0.26 to $2.90 per ADS during 2024, with a last reported price of $0.475 per ADS on December 31, 2024[212]. - The company has faced scrutiny and negative publicity related to U.S.-listed Chinese companies, which could impact its stock price and business operations[199]. - The company's public shareholders may have limited rights and remedies in emerging markets, making it harder to pursue claims common in the U.S.[211].

Core Points - AirNet Technology Inc. will terminate the amended and restated Deposit Agreement effective May 30, 2025 [1][2] - On the effective date, holders of American depositary shares (ADSs) will have their ADSs automatically cancelled and will receive one ordinary share for each ADS cancelled [2] Company Actions - The termination of the Deposit Agreement will be communicated to all holders and beneficial owners of the Company's American depositary receipts (ADRs) around April 30, 2025 [2] - The underlying Deposited Securities will be distributed to ADS holders as part of the Mandatory Exchange [2]

Core Points - AirNet Technology Inc. has been granted an additional 180-day grace period by Nasdaq until September 15, 2025, to regain compliance with the minimum bid price requirement of $1.00 per share [1] - The company is committed to addressing the bid price deficiency during this extended compliance period and aims to meet the requirement by having its closing bid price at or above $1 per ADS for at least 10 consecutive business days [2] - AirNet has demonstrated compliance with all other Nasdaq continued listing requirements, including market value of publicly held shares and shareholder equity thresholds [3] - To ensure compliance, the company plans to closely monitor its ADS price and may consider actions such as an ADS ratio change or reverse stock split [3]

Core Viewpoint - AirNet Technology Inc. has signed a non-binding Investment Letter of Intent with LLP STH Corp to invest in a 130MW liquid-cooled Bitcoin mining farm project in Kazakhstan [1][4] Group 1: Project Details - The project includes a 70MW national grid-powered facility and a 60MW natural gas self-generation facility, both utilizing liquid-cooling technology to enhance operational efficiency and extend equipment lifespan [2] - The implementation of liquid-cooling technology is expected to improve technical performance, significantly reduce operational costs, and maximize energy efficiency [2] Group 2: Company Background - LLP STH Corp specializes in advanced liquid-cooled Bitcoin mining solutions and data center facility management, securing reliable power sources through strategic partnerships with local natural gas suppliers [3] - The company’s approach allows for high operating efficiency while minimizing downtime and maintenance costs [3] Group 3: Investment Intentions - AirNet aims to conduct full legal and business due diligence on LLP STH Corp before finalizing any agreements [4] - The investment is part of AirNet's strategic expansion into blockchain technology applications and the data center sector [4]