AirNet Technology Completes $180 Million Offering Entirely in Digital Assets

AirNet Technology Inc. (Nasdaq: ANTE) has completed its previously announced registered direct offering with certain investors, raising gross proceeds of approximately $180 million through the purchase and sale of 80,826,225 ordinary shares and accompanying warrants. The proceeds were paid entirely in digital assets, consisting of approximately 819.07 Bitcoin and 19,928.91 Ethereum before the deduction of offering expenses, representing a landmark move that reflects the company's new corporate direction.

This financing solidifies AirNet's strategic transformation into a dedicated participant in the digital asset ecosystem. To guide this new chapter, the company has engaged a team of seasoned cryptocurrency professionals to advise on a sophisticated, multi-faceted strategy designed to maximize shareholder value. The completion of this offering marks a pivotal new beginning for AirNet, as receiving the full proceeds in Bitcoin and Ethereum aligns the company's treasury directly with its future direction in the digital asset space.

Dan Shao, CEO of AirNet, stated that this strategic capital provides immense flexibility for the company. Guided by the new team of experts, AirNet is positioned to be an active and intelligent participant across the entire digital asset landscape. The offering represents a significant shift in corporate strategy for the Nasdaq-listed company, moving toward full integration with cryptocurrency markets and blockchain technology.

The transaction was structured as a registered direct offering, ensuring compliance with securities regulations. The press release specifically notes that it does not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.