#China #Beijing #AirNet Technology #Nasdaq ANTE #Registered Direct Offering

AirNet Technology Inc. Announces $180 Million Registered Direct Offering

AirNet Technology Inc., trading under the Nasdaq symbol ANTE, has recently made a significant announcement regarding its fundraising activities. The company revealed that it has secured a definitive agreement with investors to conduct a registered direct offering. This offering encompasses nearly 80.8 million ordinary shares, each with a par value of $0.04, alongside associated warrants. The financial implications of this deal are substantial, with the overall purchase price set at approximately $2.227 per share and accompanying warrant.

Details of the Offering

As part of the registered direct offering, investors will have the opportunity to acquire warrants that enable them to purchase an equivalent number of ordinary shares at an exercise price of $3.3405. These warrants are immediately exercisable and come with a five-year expiration period. The gross proceeds from this significant capital raise are anticipated to reach around $180 million, excluding the costs associated with the offering.

The expected closing date for this transaction is August 27, 2025, pending standard closing conditions. The company has indicated that the net proceeds will primarily be allocated towards general corporate expenses and enhancing its working capital.

Regulatory Compliance

AirNet intends to execute this offering in compliance with regulatory requirements, utilizing an effective shelf registration statement initially filed on May 10, 2024, with the Securities and Exchange Commission (SEC). This statement was subsequently declared effective on May 31, 2024. Interested investors can access the prospectus and any supplementary information regarding the offering on the SEC’s website at SEC website.

The prospectus will provide crucial details related to the offering, ensuring transparency and compliance with the applicable securities laws.

Looking Ahead

This fundraising initiative marks a pivotal moment for AirNet Technology Inc. as it seeks to bolster its financial foundation and strategic objectives. With a clear intention to utilize the raised funds effectively, the company prepares to enhance its operational capacity. This effort is expected to contribute significantly to AirNet's long-term growth trajectory in the technology sector.

Forward-looking statements in press releases such as this carry inherent risks and uncertainties. The future performance of AirNet is not guaranteed, and it’s essential for investors to consider these factors as described in the company’s SEC filings, which are also made available for public viewing.

Company Contact Information

For more information, investors can reach out to AirNet's Investor Relations team:

• - Contact Person: Penny Pei
• - Phone: +86-10-8460-8678
• - Email: [email protected]

With upcoming developments, there is optimism surrounding AirNet Technology Inc.'s potential and its commitment to innovation in the tech industry. The successful execution of this offering could provide the necessary resources for future growth initiatives, solidifying the company’s position in a competitive market.