ANTE - AirNet Technology announces termination of investment pact

2023-06-26 08:20:39 ET

• AirNet Technology (formerly known as AirMedia Group) ( NASDAQ: ANTE ) notifies the termination pact entered with Unistar Group Holdings, Northern Shore Group Limited, Mr. Herman Man Guo, chairman of the company, and Mrs. Dan Shao, chief executive officer of the company, undertaken among the parties on April 6, 2022.
• Per the terms of the investment pact, the company shall deliver and transfer 5,000 ANTMINER S19 and 2,000 INNO A11 computer servers to Unistar Group and Northern Shore in consideration for the issuance of specified shares.
• Since certain requirements for the close under the pact have not been met, and the computer servers that were given in exchange for the issuing of these shares have not been delivered and transferred to the Company.
• The pact and the transactions covered by it will be terminated, the parties have agreed after deliberate dialogue.
• In lieu of the termination pact, the company shall repurchase 3.43M ordinary shares and 1.02M ordinary shares of the company with a par value of $0.04 each from Unistar Group and Northern Shore at par, respectively.

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