AirNet Technology Inc. Reports Termination of Share Purchase Agreement - Form 6-K Insights

Based on the provided section of the financial report, here are the key insights:

1. Company Information:

• Name: AirNet Technology Inc.
• Location: Suite 301, No. 26 Dongzhimenwai Street, Chaoyang District, Beijing 100027, The People's Republic of China.
• SEC Commission File Number: 001-33765.

2. Report Type:

• This is a Form 6-K, which is a report of a foreign private issuer to disclose certain material events.

3. Event Date:

• The report pertains to activities occurring in February 2025.

4. Termination of Share Purchase Agreement:

• On January 13, 2025, AirNet entered into a share purchase agreement to issue 15,070,000 ordinary shares at a price of US$0.4675 per share, which would have raised approximately US$7.0 million.
• The agreement included a clause allowing termination if the closing was not consummated within 10 days post-execution.
• A termination notice was sent to the purchasers on February 13, 2025, indicating that the offering has been officially terminated.

5. Legal Implications:

• Upon termination, the Purchase Agreement becomes void, with no further obligations for either party, barring specified exceptions.

6. Incorporation by Reference:

• This report is incorporated by reference into the company's Registration Statement on Form F-3, filed initially on May 10, 2024 (Registration No. 333-279318).

7. Signatory Information:

• The report was signed by Yuan Feng, Co-Chief Executive Officer of AirNet Technology Inc., on February 13, 2025.

Summary Insight

The termination of the share purchase agreement signifies a significant setback for AirNet Technology Inc., as it had planned to raise capital through this offering. The company's ability to consummate such agreements in the future may be influenced by this event, potentially affecting investor confidence and market perception.