AirNet Technology receives noncompliance notification from Nasdaq

AirNet Technology announced that it received a notification letter from the Listing Qualifications Department of Nasdaq notifying that the company is no longer in compliance with the Nasdaq Listing Rule 5550 for continued listing due to its failure to maintain a minimum of $2.5M in stockholders’ equity. In the company’s Form 6-K dated December 28, 2023, the company reported a negative stockholders’ equity of approximately $25.3M. Nasdaq also determined that the company does not meet the alternatives of market value of listed securities or net income from continuing operations for continued listing.