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AirNet Technology Signs Stock-Only Deal to Purchase Servers for Mining Cryptocurrencies

· 02/05/2021 02:51

07:49 AM EST, 02/05/2021 (MT Newswires) -- China's AirNet Technology (ANTE) said Friday it has agreed to acquire computer servers for mining cryptocurrencies from Northern Shore Group.

AirNet said it agreed to issue more than 28.4 million shares, or about 19% of its current outstanding shares, to Northern Shore for either 401 A10 Pro or 1,200 588/580-8 servers.

The servers are valued at $5.5 million, which translates into a per share price of $0.195, or $1.95 per American depositary share, the company said.

AirNet was nearly 5% higher in premarket trading.

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