China-based AirNet Technology Inc., (formerly known as AirMedia Group Inc.) an in-flight solution provider on connectivity, entertainment, and digital multimedia provider, has regained compliance with the minimum bid requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules, the company said.
On September 24, 2019, the Company received a notification letter from the Nasdaq, indicating that the closing bid price per American depositary share had been below USD 1.00 for a period of 30 consecutive business days and that the Company did not meet the Minimum Bid Price Requirement.
Nasdaq has determined that for the 10 consecutive business days, being from October 15 through October 28, 2019, the closing bid price of the Company´s ADS has been at USD 1.00 per ADS or greater, and the company has regained compliance with the Minimum Bid Price Requirement, and the matter is now closed.
AirNet Technology Inc. provides in-flight solutions to connectivity, entertainment and digital multimedia in China. AirNet empowers Chinese airlines with seamlessly immersive Internet connections through a network of satellites and land-based beacons, provides airline travelers with interactive entertainment and a coverage of breaking news, and furnishes corporate clients with advertisements tailored to the perceptions of the travelers.