AirNet Technology announces $180M registered direct offering

* AirNet Technology (NASDAQ:ANTE [https://seekingalpha.com/symbol/ANTE]) said on Friday that it has entered into a definitive agreement [https://seekingalpha.com/pr/20209056-airnet-technology-inc-announces-us-180_0-million-registered-direct-offering] with investors for the purchase and sale of 80.8M of its ordinary shares, par value US$0.04 each, and accompanying warrants 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.
* AirNet intends to use the net proceeds from the proposed offering for general corporate and working capital purposes.

MORE ON AIRNET TECHNOLOGY INC.

* Financial information for AirNet Technology Inc. [https://seekingalpha.com/symbol/ANTE/income-statement]