AirNet Has Regained Compliance with Nasdaq's Minimum Bid Price Requirement
AirNet Technology Inc. - American Depositary Shares, each representing one ordinary shares (ANTE)
Company Research
Source: PR Newswire
BEIJING, Oct. 31, 2019 /PRNewswire/ -- AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (Nasdaq: ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, today announced that based on a notification letter (the "Notification Letter on Compliance") recently received from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq"), the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules (the "Minimum Bid Price Requirement"). On September 24, 2019, the Company received a notification letter from the Nasdaq (the "Notification Letter on Deficiency") indicating that the closing bid price per American depositary share ("ADS"), each representing ten ordinary shares of the Company, had been below $1.00 for a period of 30 consecutive business days and that the Company did not meet the Minimum Bid Price Require
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