BEIJING, Nov. 14,
2024 /PRNewswire/ -- AirNet Technology Inc., formerly
known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq:
ANTE), today announced that it received a written notice from the
Listing Qualifications Staff of Nasdaq (the "Staff") on
November 12, 2024, notifying the
Company that it has regained compliance with the minimum market
value of publicly held shares ("MVPHS") requirement under Nasdaq
Listing Rule 5550(a)(5).
The Company was previously notified by the Staff on
September 18, 2024 that it was not in compliance with
the MVPHS requirement due to its failure to maintain a
minimum MVPHS of US$1.0 million for a
period of 30 consecutive business days. Since then, the Staff has
determined that the Company's MVPHS had been US$1.0 million or greater from October 28 through November 11, 2024. Therefore,
the Staff determined that the requirement was met on November 12, 2024.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "is expected to," "anticipates," "aim," "future,"
"intends," "plans," "believes," "are likely to," "estimates,"
"may," "should" and similar expressions. The Company may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Forward-looking statements
are based upon management's current expectations and current market
and operating conditions, and involve inherent risks and
uncertainties, all of which are difficult to predict and many of
which are beyond the Company's control, which may cause its actual
results, performance or achievements to differ materially from
those in the forward-looking statements. Further information is
included in the Company's filings with the U.S. Securities and
Exchange Commission. All information provided in this announcement
is as of the date of this announcement, and the Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under law.
Company Contact
Penny Pei
Investor Relations
AirNet Technology Inc.
Tel: +86-10-8460-8678
Email: penny@ihangmei.com
View original
content:https://www.prnewswire.com/news-releases/airnet-resolves-nasdaq-minimum-market-value-of-publicly-held-shares-deficiency-302305202.html
SOURCE AirNet Technology Inc.