AIRNET TECHNOLOGY INC. COMPLETES US$180.0 MILLION REGISTERED DIRECT OFFERING

Rhea-AI Summary

AirNet Technology (Nasdaq: ANTE) has completed a significant US$180.0 million registered direct offering through the sale of 80,826,225 ordinary shares and accompanying warrants. In a unique transaction structure, the proceeds were paid entirely in digital assets, comprising 819.07 Bitcoin and 19,928.91 Ethereum, before offering expenses.

The financing represents a strategic pivot for AirNet as it transforms into a dedicated participant in the digital asset ecosystem. To support this transition, the company has recruited cryptocurrency professionals to develop and execute its strategy. CEO Dan Shao emphasized that this financing marks a new beginning for AirNet, with the digital asset proceeds aligning with the company's future direction.

Positive

• Raised substantial capital of US$180.0 million through registered direct offering
• Strategic transformation into digital asset ecosystem with expert cryptocurrency team
• Received proceeds in Bitcoin (819.07) and Ethereum (19,928.91), aligning with new business direction

Negative

• Significant shareholder dilution through issuance of 80,826,225 new shares
• Exposure to volatile cryptocurrency market through Bitcoin and Ethereum holdings
• Complete business model transformation carries execution risks

BEIJING, Aug. 28, 2025 /PRNewswire/ -- AirNet Technology Inc. (Nasdaq: ANTE) ("AirNet" or the "Company"), today announced the completion of its previously announced registered direct offering with certain investors. The Company raised gross proceeds of approximately US$180.0 million through the purchase and sale of 80,826,225 of its ordinary shares and accompanying warrants.

In a landmark move reflecting its new corporate direction, the proceeds were paid entirely in digital assets, consisting of approximately 819.07 Bitcoin and 19,928.91 Ethereum, before the deduction of offering expenses.

This financing solidifies AirNet's strategic transformation into a dedicated participant in the digital asset ecosystem. To guide this new chapter, the Company has engaged a team of seasoned cryptocurrency professionals to advise on a sophisticated, multi-faceted strategy designed to maximize shareholder value.

"The completion of this financing marks a pivotal new beginning for AirNet, and receiving the full proceeds in Bitcoin and Ethereum aligns our treasury directly with our future," said Dan Shao, CEO of AirNet. "This strategic capital gives us immense flexibility. Guided by our new team of experts, we are positioned to be an active and intelligent participant across the entire digital asset landscape."

This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; changes in applicable laws or regulations; as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by the Company. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

View original content:https://www.prnewswire.com/news-releases/airnet-technology-inc-completes-us180-0-million-registered-direct-offering-302540933.html

SOURCE AirNet Technology Inc.

FAQ

How much did AirNet Technology (ANTE) raise in its registered direct offering?

AirNet Technology raised US$180.0 million through the sale of 80,826,225 ordinary shares and accompanying warrants.

What form of payment did AirNet receive for its US$180 million offering?

AirNet received the proceeds entirely in digital assets, specifically 819.07 Bitcoin and 19,928.91 Ethereum, before offering expenses.

How many new shares did AirNet Technology issue in the August 2025 offering?

AirNet Technology issued 80,826,225 ordinary shares along with accompanying warrants in the offering.

What is AirNet Technology's new strategic direction following the offering?

AirNet is transforming into a dedicated participant in the digital asset ecosystem, supported by newly hired cryptocurrency professionals to guide their strategy.

Who is leading AirNet Technology's transformation into digital assets?

The transformation is being led by CEO Dan Shao, supported by a newly engaged team of seasoned cryptocurrency professionals.