SECsense Logo

AirNet Technology Inc. February 2025 Report: Capital Raising Insights

$ANTE
Form 6-K
Filed on: 2025-02-19
Source
AirNet Technology Inc. February 2025 Report: Capital Raising Insights

Here are the key insights extracted from the financial report (Form 6-K) of AirNet Technology Inc.:

  1. Company Overview:
  • Name: AirNet Technology Inc.
  • Location: Suite 301, No. 26 Dongzhimenwai Street, Chaoyang District, Beijing 100027, People's Republic of China.
  • Commission File Number: 001-33765.
  1. Report Date: The report is filed for the month of February 2025.
  2. Securities Purchase Agreement (SPA):
  • On February 19, 2025, AirNet entered into a securities purchase agreement with certain non-U.S. persons (referred to as "Purchasers").
  • The agreement allows the Company to sell up to 15,555,600 restricted ordinary shares at a price of $0.45 per share, totaling approximately $7 million.
  • The proceeds from the offering are intended for working capital and general corporate purposes.
  1. Regulatory Compliance:
  • The shares to be issued in the offering are exempt from registration requirements under the Securities Act due to their classification under Regulation S.
  • The Purchasers are defined as "non-U.S. Persons", ensuring compliance with U.S. securities regulations.
  1. Closing Conditions:
  • The closing of the Offering is contingent upon the completion or waiver of all closing conditions specified in the SPA.
  1. Exhibits:
  • The form of the SPA is included as Exhibit 99.1, which provides detailed terms of the agreement and the parties' obligations.
  1. Signature:
  • The report is signed by Yeung Yat Chuen, the Chief Executive Officer of AirNet Technology Inc., confirming its authenticity and compliance with regulatory requirements.

This information is crucial for investors and analysts to understand the financial maneuvering of AirNet Technology Inc. and its strategy for raising capital in the market.