AirNet Granted Additional 180-Day Grace Period to Regain Compliance with Nasdaq Bid Price Requirement

Rhea-AI Summary

AirNet Technology (Nasdaq: ANTE) has received an additional 180-day grace period from Nasdaq, extending until September 15, 2025, to regain compliance with the minimum $1.00 bid price requirement for continued listing on the Nasdaq Capital Market.

The company can achieve compliance if its closing bid price remains at or above $1 per ADS for at least 10 consecutive business days during this period. AirNet has confirmed compliance with all other Nasdaq listing requirements, including market value of publicly held shares and shareholder equity thresholds.

To maintain its Nasdaq listing, AirNet is considering various measures, including a potential ADS ratio change or reverse stock split.

Positive

• Granted additional 180-day grace period for Nasdaq compliance
• Maintains compliance with all other Nasdaq listing requirements

Negative

• Stock trading below $1.00 minimum bid price requirement
• May need to implement reverse stock split, potentially affecting share structure
• Risk of Nasdaq delisting if compliance not achieved by September 2025

News Market Reaction

-13.61%

1 alert

-13.61% News Effect

On the day this news was published, ANTE declined 13.61%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BEIJING, March 18, 2025 (GLOBE NEWSWIRE) -- AirNet Technology Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), is pleased to announce that Nasdaq has granted the Company an additional 180-day grace period, until September 15, 2025, to regain compliance with the Nasdaq Capital Market’s minimum $1.00 bid price per share requirement.  

AirNet remains fully committed to addressing the bid price deficiency during this extended compliance period. If the Company’s closing bid price meets or exceeds $1 per ADS for a minimum of 10 consecutive business days within this timeframe, the Company will be in compliance with that requirement and Nasdaq should close this matter.

The Company has demonstrated compliance with all other applicable Nasdaq continued listing requirements, including the market value of publicly held shares and shareholder equity thresholds.

To ensure compliance, AirNet intends to monitor its ADS price closely and will take all necessary steps to maintain its Nasdaq listing, including effecting an ADS ratio change or reverse stock split.

Forward-Looking Statement

This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 20-F and its Current Reports on Form 6-K. Investors are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Company Contact

Penny Pei
Investor Relations
AirNet Technology Inc.
Tel: +86-10-8460-8678
Email: penny@ihangmei.com

FAQ

What is the deadline for AirNet (ANTE) to meet Nasdaq's minimum bid price requirement?

AirNet has until September 15, 2025 to meet Nasdaq's $1.00 minimum bid price requirement.

How can AirNet (ANTE) regain compliance with Nasdaq's listing requirements?

AirNet needs to maintain a closing bid price of $1 or above for at least 10 consecutive business days before September 15, 2025.

What actions might AirNet (ANTE) take to maintain its Nasdaq listing?

AirNet is considering implementing an ADS ratio change or a reverse stock split to maintain compliance.

Is AirNet (ANTE) compliant with other Nasdaq listing requirements besides the bid price?

Yes, AirNet confirms compliance with other requirements including market value of publicly held shares and shareholder equity thresholds.