AirNet Technology raises $180 million in digital assets offering

AirNet Technology Inc. (NASDAQ: ANTE) completed a registered direct offering that raised approximately $180 million in gross proceeds. The company sold 80,826,225 ordinary shares and accompanying warrants to certain investors.

The proceeds were paid entirely in digital assets, consisting of approximately 819.07 Bitcoin and 19,928.91 Ethereum before deduction of offering expenses. This represents the full amount raised through the transaction.

The company stated the financing supports its strategic transformation into a participant in the digital asset ecosystem. AirNet has engaged cryptocurrency professionals to advise on its strategy in this sector.

"The completion of this financing marks a pivotal new beginning for AirNet, and receiving the full proceeds in Bitcoin and Ethereum aligns our treasury directly with our future," said Dan Shao, CEO of AirNet.

The company indicated it plans to be an active participant across the digital asset landscape using the raised capital. The offering was structured as a registered direct offering with specific investors rather than a public offering.

This information is based on a press release statement from the company. The transaction was previously announced before its completion.

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