ANTE - AirNet Technology entered into investment agreement with Unistar Group

AirNet Technology (NASDAQ:ANTE), formerly known as AirMedia Group has entered into an investment agreement with Unistar Group Holdings, Mr. Herman Man Guo, the chairman and CEO of the company, and Ms. Dan Shao, Mr. Guo's spouse. Pursuant to the deal, it has agreed to issue 177,953,891 ordinary shares with a par value of $0.001/share and warrants to purchase an aggregate of 117,805,476 newly issued Shares to Unistar Group and Northern Shore Group Limited in exchange for the delivery and transfer of 5,000 ANTMINER S19 and 2,000 INNO A11 computer servers to further expand the Company's cryptocurrency business. The warrants are exercisable in three tranches if and when the market capitalization of the company equals or exceeds $500M, $1B and $1.5B, respectively. Per the terms, Unistar Group have the rights to nominate  new members of the board of the Company as replacements for the then-existing directors of the Company. The deal is expected to be completed

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AirNet Technology entered into investment agreement with Unistar Group