AirNet Announces Receipt of Deficiency Letter from Nasdaq

January 19, 2024

https://www.globenewswire.com/news-release/2024/01/05/2804447/0/en/AirNet-Announces-Receipt-of-Deficiency-Letter-from-Nasdaq.html

BEIJING, Jan. 05, 2024 (GLOBE NEWSWIRE) — AirNet Technology Inc., formerly known as AirMedia Group Inc. (the “Company”) (Nasdaq:ANTE), today announced that it received a notification letter dated December 29, 2023 (the “Deficiency Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the “Nasdaq”) notifying that the Company is no longer in compliance with the Nasdaq Listing Rule 5550(b)(1) for continued listing due to its failure to maintain a minimum of $2.5 million in stockholders’ equity. In the Company’s Form 6-K dated December 28, 2023, the Company reported a negative stockholders’ equity of approximately $25.3 million. Nasdaq also determined that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations for continued listing.

Read more at globenewswire.com

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