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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Airmedia Grp. ADS, Each Representing Two Ordinary Shares (MM) | NASDAQ:AMCN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.65 | 1.53 | 1.74 | 0 | 01:00:00 |
From Apr 2019 to Apr 2024
BEIJING, July 31, 2017 /PRNewswire/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market, today announced that on July 31, 2017, it entered into Amendment No. 4 to the Agreement and Plan of Merger (the "Merger Agreement Amendment No. 4") to amend that certain Agreement and Plan of Merger (the "Merger Agreement"), dated September 29, 2015, as amended, by and among the Company, AirMedia Holdings Ltd. ("Parent") and AirMedia Merger Company Limited, a wholly owned subsidiary of Parent (the "Merger Sub").
The Merger Agreement Amendment No. 4 contains the following major amendments:
Concurrently with the signing of the Merger Agreement Amendment No. 4, Mr. Guo and Ms. Shao have amended their Limited Guarantee dated September 29, 2015 in favor of the Company in connection with the Merger Agreement to increase the guarantee amount from US$6 million to US$11.64 million.
The Company cautions its shareholders and others considering trading in the Company's securities that the availability of the Buyer Group's funding for the Proposed Transaction is subject to various conditions, including the condition in connection with the Debt Committeemen Letter set forth above, which is in turn contingent upon the Buyer Group's obtaining of sufficient PRC equity financing commitments.
There can be no assurance that all of the funding conditions will be satisfied or that the Proposed Transaction will be consummated. In connection with the Proposed Transaction, the Company has previously filed a transaction statement on Schedule 13E-3, a preliminary proxy statement and related materials with the Securities and Exchange Commission, and expects to soon file an amendment to the Schedule 13E-3 and updated proxy materials with the Securities and Exchange Commission. The amendment to the Schedule 13E-3 will include description of the negotiation process of all the prior amendments to the Merger Agreement as well as all amendments to the Merger Agreement as exhibits to such filing.
About AirMedia Group Inc.
AirMedia Group Inc. (Nasdaq: AMCN) is an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market. AirMedia sells advertisements on the routes operated by several Chinese airlines and at Sinopec's service stations in China. AirMedia also has concession rights to operate the Wi-Fi systems on trains administered by eight railway administrative bureaus in China as well as on many long-haul buses in China.
For more information about AirMedia, please visit http://www.airmedia.net.cn.
Investor Contact:
Richard Wu
Chief Financial Officer
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@ihangmei.com
View original content:http://www.prnewswire.com/news-releases/airmedia-enters-into-amendment-no-4-to-merger-agreement-for-going-private-transaction-300496456.html
SOURCE AirMedia Group Inc.
Copyright 2017 PR Newswire
1 Year Airmedia Grp. ADS, Each Representing Two Ordinary Shares (MM) Chart |
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