AirNet Technology announces $180M registered direct offering

AirNet Technology (ANTE)announced that it has entered into a definitive agreement with investors for the purchase and sale of 80,826,225 of its ordinary shares, and accompanying warrants to purchase up to 80,826,225 Ordinary Shares at a combined purchase price of $2.227 per Ordinary Share and accompanying Warrant in a registered direct offering. The Warrants are immediately exercisable at an exercise price of $3.3405 per Ordinary Share and will expire five years from the date of issuance. The gross proceeds to AirNet from the offering are expected to be approximately $180M, before deducting offering expenses payable by the company. The offering is expected to close on or about August 27, subject to customary closing conditions.