AirNet receives minimum bid price notice from NASDAQ

Beijing-based AirNet Technology Inc., (formerly AirMedia Group Inc.) (Nasdaq: ANTE) has announced it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market Inc., indicating that the Company is no longer in compliance with the minimum bid price requirement of the Nasdaq Listing Rules, the company said.

The Nasdaq notification letter does not result in the immediate delisting of the Company´s securities.

Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until March 23, 2020, to regain compliance with Nasdaq´s minimum bid price requirement.

AirNet Technology Inc. is an in-flight solution provider on connectivity, entertainment, and digital multimedia in China.