January 4, 2021 07:27 AM ET (BZ Newswire) -- News AirNet Technology Inc., formerly known as AirMedia Group Inc. ("AirNet" or the "Company") (NASDAQ:ANTE), an in-flight solution provider on connectivity, entertainment, and digital multimedia in China, today announced that on December 30, 2020, it has entered into an investment agreement (the "Agreement") with Unistar Group Holdings Ltd. ("Unistar"), an unaffiliated party of the Company. Pursuant to the Agreement, the Company has agreed to issue 23,876,308 ordinary shares with a par value of US$0.001 per share (each a "Share"), or approximately 19 % of the Company's currently outstanding ordinary shares, to Unistar, in exchange for the delivery and transfer by Unistar to the Company of 500 computer servers specifically designed for mining cryptocurrencies.
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