AirMedia Announces Receipt of Deficiency Letter from NASDAQ
AIRMEDIA GROUP (AMCN)
US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=214947&p=irol-homeprofile
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Source: PR Newswire
BEIJING, May 23, 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 it has received a letter dated May 18, 2017 (the "Deficiency Letter") from The NASDAQ Stock Market, Inc. ("NASDAQ") notifying the Company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing because its annual report on Form 20-F for the year ended December 31, 2016 (the "Annual Report") was not filed on a timely basis with the Securities and Exchange Commission. Under NASDAQ Listing Rule 5810(c)(2)(F)(i), the Company has until July 17, 2017 (that is, 60 calendar days from the date of the Deficiency Letter) to submit to NASDAQ a plan to regain compliance with the NASDAQ Listing Rules (the "Compliance Plan"). The Company intends to submit the Compliance Plan as soon as practicable. Und
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