Welcome to our dedicated page for Airnet Technology news (Ticker: ANTE), a resource for investors and traders seeking the latest updates and insights on Airnet Technology stock.
AirNet Technology Inc. (ANTE) delivers cutting-edge in-flight connectivity solutions while pioneering digital advertising and cryptocurrency mining ventures. This Nasdaq-listed company serves as your definitive source for official corporate announcements and operational developments across all business segments.
Access real-time updates on strategic partnerships, technological advancements in satellite communications infrastructure, and financial performance metrics. Our curated news collection enables investors to track:
- Major contract wins in aviation entertainment systems
- Innovations in passenger-facing digital advertising platforms
- Expansion of cryptocurrency mining operations
- Regulatory developments affecting in-flight connectivity services
Bookmark this page for immediate access to verified ANTE press releases, ensuring you never miss critical updates about this unique hybrid of aviation technology and digital asset innovation.
AirNet Technology Inc. (Nasdaq: ANTE) announced an extraordinary general meeting (EGM) for shareholders on November 30, 2022, in Beijing. The meeting will address a proposal to consolidate shares at a ratio of 40:1, adjusting the par value from US$0.001 to US$0.04. Following this, the authorized share capital will be US$1,000,000, consisting of 22,500,000 ordinary shares and 2,500,000 preferred shares. The Record Date for eligible shareholders is November 7, 2022. If approved, the consolidation will take effect on December 9, 2022, with a change in the American Depositary Receipts ratio from 10:1 to 1:1.
AirNet Technology Inc. (Nasdaq: ANTE) announced it received a Notification Letter from Nasdaq on October 20, 2022, indicating non-compliance with the minimum bid price requirement, as their American depositary shares (ADS) have remained below $1.00 for 30 consecutive business days. The company has until April 18, 2023, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. The letter has no immediate impact on its listing status, but failure to comply may lead to delisting.
AirNet Technology Inc. (Nasdaq: ANTE) announced changes in its management and board of directors effective September 9, 2022. Dan Shao has been appointed as the new CEO, succeeding Herman Man Guo, who remains as chairman and interim CFO. Shao brings extensive experience, having served as managing director of Air Media International and Air Joy Media, among other roles. The board has been restructured to include six directors, with three being independent. These changes aim to strengthen leadership and governance as the company navigates forward.
AirNet Technology Inc. (Nasdaq: ANTE) has entered into an investment agreement with Unistar Group Holdings Ltd., under which it will issue approximately 178 million ordinary shares and warrants for the purchase of nearly 118 million additional shares. In exchange, AirNet will receive 5,000 ANTMINER S19 and 2,000 INNO A11 computer servers to boost its cryptocurrency operations. The agreement allows Unistar Group to nominate new board members. Completion of the transaction is expected in the first half of 2022 but is subject to certain conditions.
AirNet Technology Inc. (Nasdaq: ANTE) announced a significant equipment purchase agreement for 4,800 Bitmain Antminer S-19 XP miners, totaling approximately US$60 million. Delivery is scheduled for second half 2022 in monthly installments of 800 units. Financing will be provided by partner Foundry Digital LLC through Foundry X. Additionally, AirNet has entered a three-year lease for about four acres of land and 22,603 square feet of office space in Houston, Texas, to support its expanding operations in the United States.
AirNet Technology Inc. (Nasdaq: ANTE), an in-flight solutions provider, announced the appointment of Audit Alliance LLP as its new independent registered public accounting firm, replacing Marcum Bernstein & Pinchuk LLP. This change is effective December 31, 2021, following careful consideration by the Board of Directors. The company did not consult with Audit Alliance regarding any matters during the fiscal years ending December 31, 2020, and 2019, or the interim period through December 31, 2021. AirNet is coordinating with both firms to ensure a smooth transition.
AirNet Technology Inc. (Nasdaq: ANTE) announced a management change effective March 5, 2021, with CFO Xin Li resigning for personal reasons that do not involve any disputes. Herman Man Guo, the current chairman and CEO, will serve as interim CFO until a permanent replacement is found. Li will remain with the company as a consultant until September 4, 2021. The board expressed gratitude for Li's contributions. AirNet continues to provide in-flight connectivity and entertainment solutions across China, leveraging satellite and land-based networks to enhance airline passenger experiences.
AirNet Technology Inc. (Nasdaq: ANTE) announced on February 19, 2021, that it has regained compliance with Nasdaq's minimum market value requirement following a notification letter dated February 18, 2021. This compliance comes after previously receiving a deficiency letter on September 16, 2020, related to its market value of listed securities. AirNet's successful compliance was confirmed as its market value exceeded $35 million for ten consecutive business days from February 3 to February 17, 2021, thus closing the matter with Nasdaq.
AirNet Technology Inc. (Nasdaq: ANTE) announced an investment agreement with Northern Shore Group Ltd. on February 4, 2021. The company will issue 28,412,806 shares, representing approximately 19% of current shares, in exchange for computer servers valued at $5,540,497.19. This deal includes either 401 A10 Pro or 1,200 588/580-8 servers for cryptocurrency mining. The per share consideration is $0.195, reflecting a 20% discount to the average closing price over the previous 20 trading days. The CEO stated that the initial cryptocurrency mining efforts have been successful, attracting new investors.
AirNet Technology Inc. (Nasdaq: ANTE) announced an investment agreement with Unistar Group Holdings Ltd. on December 30, 2020. AirNet will issue 23,876,308 ordinary shares to Unistar, representing about 19% of its current outstanding shares, in exchange for 500 cryptocurrency mining servers valued at approximately $2.53 million. This transaction provides a 20% discount on recent stock prices. The acquisition is aimed at enhancing data storage and analytics capabilities to expand AirNet's blockchain solutions in the in-flight connectivity sector.
