AirNet Technology Inc. (ANTE) has entered into an investment agreement with Unistar Group, an unaffiliated party of the company. Pursuant to this, AirNet Technology has agreed to issue 23,876,308 ordinary shares with a par value of $0.001 per 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. The computer servers were valued at a per share consideration of $0.106, or $1.06 per American depositary share of AirNet.
"the company is convinced that it is the right time to take another leap in technological innovation and form a new line of business embracing the mining of cryptocurrencies and future applications derived upon cryptocurrencies," Herman Guo, CEO, said.
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