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Lantronix Completes Acquisition of Intrinsyc Expanding its IoT Value Proposition

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IRVINE, Calif., Jan. 16, 2020 — Lantronix, Inc. (“Lantronix”) (NASDAQ: LTRX), a global provider of secure data access and management solutions for the industrial Internet of Things (IoT), today announced that it has completed its previously announced acquisition of all of the outstanding shares of Intrinsyc Technologies Corporation (“Intrinsyc”) a leading provider of solutions for the development of embedded and IoT products. 

Immediately following the transaction, Intrinsyc shareholders will own approximately 15.5% of the outstanding shares of common stock of Lantronix.

“The acquisition of Intrinsyc demonstrates our continuing commitment to deliver incremental growth and shareholder value,” stated Paul Pickle, president, and CEO of Lantronix. “In this transaction, which is expected to be accretive after the first full quarter of operations, we are acquiring edge computing and design capabilities crucial to the development of intelligent IoT solutions, while also bringing increased scale and the resulting operating efficiencies necessary to drive incremental earnings growth for the benefit of our shareholders.”

About Lantronix  Lantronix is a global provider of secure data access and management solutions for Internet of Things (IoT) assets. Our mission is to be the leading supplier of IoT solutions that enable companies to dramatically simplify the creation, deployment, and management of IoT projects while providing secure access to data for applications and people.

With more than two decades of experience in creating robust machine to machine (M2M) technologies, Lantronix is an innovator in enabling our customers to build new business models and realize the possibilities of the Internet of Things. Our connectivity solutions are deployed inside millions of machines serving a wide range of industries, including industrial, medical, security, transportation, retail, financial, environmental and government.

Lantronix is headquartered in Irvine, California. For more information, visit www.lantronix.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects,” “believes,” “intends,” “anticipates,” “plans,” “estimates,” “potential,” “possible,” or “probable” or statements that certain actions, events or results “may,” “will,” “should,” or “could” be taken, occur or be achieved. The forward-looking statements in this press release include, among others, statements about the expected benefits of the completed transaction to Lantronix, the accretive nature of the completed transaction and business strategy of the combined company. Forward-looking statements are based on current expectations and assumptions and analyses made by Lantronix, Intrinsyc, and their management in light of experience and perception of historical trends, current conditions, and expected future developments, as well as other factors, appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: Lantronix’s and Intrinsyc’s ability to integrate successfully and achieve anticipated benefits from the completed transaction; risks relating to any unforeseen liabilities of Lantronix or Intrinsyc; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; and any loss of management or key personnel. Lantronix’s annual report on Form 10-K for the fiscal year ended June 30, 2019, quarterly reports on Form 10-Q, recent current reports on Form 8-K, and other SEC filings discuss some of the important risk factors identified that may affect Lantronix’s business, results of operations, and financial condition. Intrinsyc’s reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2018, discuss some of the important risk factors identified that may affect Intrinsyc’s business, results of operations, and financial condition. Lantronix and Intrinsyc undertake no obligation to revise or update publicly any forward-looking statements except as required by law.

Lantronix Media Contact:  Gail Kathryn Miller Corporate Marketing & Communications Manager [email protected] 949-453-7158 Lantronix Analyst and Investor Contact: Jeremy Whitaker Chief Financial Officer [email protected] 949-450-7241
   
Lantronix Sales: [email protected] Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990 Europe, Middle East and Africa +31 (0)76 52 36 744 Asia Pacific + 852 3428-2338 China + 86 21-6237-8868 Japan +81 (0) 50-1354-6201 India +91 994-551-2488  

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AirNet Announces Receipt of Deficiency Letter from Nasdaq

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BEIJING, Sept. 19, 2020 /PRNewswire/ — 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 it received a notification letter dated September 16, 2020 (the "Deficiency Letter") from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq") notifying that the Company is no longer in compliance with the Nasdaq Listing Rule 5550(b)(1) for continued listing due to its failure to maintain a minimum of $2.5 million in stockholders’ equity. In the Company’s Form 20-F for the fiscal year ended December 31, 2019, the Company reported a negative stockholders’ equity of approximately $19 million. Nasdaq also determined that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations for continued listing.

The Deficiency Letter does not result in the immediate delisting of the Company’s ordinary shares represented by American depositary shares on the Nasdaq Capital Market. The Company has 45 calendar days from the date of the Deficiency Letter, or until November 2, 2020, to submit a plan (the "Compliance Plan") to Nasdaq to regain compliance with the minimum stockholders’ equity standard. If the Compliance Plan is accepted by Nasdaq, the Company may be granted a compliance period of up to 180 calendar days from the date of the Deficiency Letter to evidence compliance. However, since Nasdaq previously notified the Company that its bid price compliance period expires on December 10, 2020, the Compliance Plan shall also set forth a plan to address the minimum bid price requirement by such date.

The Company’s management is looking into various options available to regain compliance and maintain its continued listing on the Nasdaq Capital Market. The Company intends to submit the Compliance Plan as soon as practicable.

This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.

About AirNet

Incorporated in 2007 and headquartered in Beijing, China, AirNet provides in-flight solutions to connectivity, entertainment and digital multimedia in China. Collaborating with its partners, AirNet empowers Chinese airlines with seamlessly immersive Internet connections through a network of satellites and land-based beacons, provides airline travelers with interactive entertainment and a coverage of breaking news, and furnishes corporate clients with advertisements tailored to the perceptions of the travelers. For more information, please visit http://ir.ihangmei.com.  

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "is expected to," "anticipates," "aim," "future," "intends," "plans," "believes," "are likely to," "estimates," "may," "should" and similar expressions, and include, without limitation, statements regarding the development of the COVID-19 pandemic and its impact on the Company’s business operations. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements are based upon management’s current expectations and current market and operating conditions, and involve inherent risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but not limited to the following: its ability to achieve and maintain profitability; its ability to continuously improve its solutions and services enabling inflight connectivity; its ability to compete effectively against its competitors; the expected growth in consumer spending, average income levels and advertising spending levels; the growth of the inflight connectivity industry in China; and government policies affecting the inflight connectivity industry in China. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

 

Related Links :

http://ir.ihangmei.com/

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LAIX Inc. Announces Changes in Board and Committee Composition

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SHANGHAI, Sept. 19, 2020 /PRNewswire/ — LAIX Inc. ("LAIX" or the "Company") (NYSE: LAIX), an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning, today announced that Mr. Christopher Ludwig Eisgruber, one of the Company’s independent directors, will cease to serve on the Company’s board of directors and its committees upon the expiration of his current term ending on September 30, 2020. Upon the effectiveness of Mr. Eisgruber’s departure, Ms. Min (Jenny) Zhang will be appointed as a member of the compensation committee and the chairperson of the nominating and corporate governance committee of the board of directors of the Company, replacing Mr. Christopher Ludwig Eisgruber. In addition, Dr. Li-Lan Cheng was re-elected to serve another two-year term as an independent director of the Company, effective September 30, 2020.

About LAIX Inc.

LAIX Inc. ("LAIX" or the "Company") is an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning. Its proprietary AI teacher utilizes cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and the mobile internet. LAIX believes its innovative approach fundamentally transforms learning. LAIX provides its products and services on demand via its mobile apps, primarily its flagship "English Liulishuo" mobile app launched in 2013. On the Company’s platform, AI technologies are seamlessly integrated with diverse learning content incorporating well-established language learning pedagogies, gamified features and strong social elements to deliver an engaging, adaptive learning experience. LAIX provides a variety of courses inspired by a broad range of topics and culture themes to make English learning more interesting and is committed to offering a fun, interactive learning environment to motivate and engage its users.

For investor and media inquiries, please contact:

LAIX Inc.
Harry He
Investor Relations
Email: [email protected]

The Piacente Group Investor Relations
Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected]

Emilie Wu
Tel: +86-21-6039-8363
Email: [email protected]

Related Links :

http://www.liulishuo.com

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Spectrio Named to Inc. Magazine’s 2020 List of America’s Fastest-Growing Private Companies

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Spectrio, one of the nations leading providers of customer engagement technology, announced that it is on Inc. Magazines annual Inc. 5000 list, the most prestigious ranking of the nations fastest-growing private companies.

The ninth time in 13 years its earned the prestigious honor, Spectrio previously ranked on the Inc. 5000 list in 2019, 2014, 2013, 2012, 2010, 2009, 2008, and 2007. Spectrio was listed at no. 3050 on the Inc. 5000 list, up 756 from the previous year.

In early 2020, Spectrio was also named to Inc. Magazines inaugural 2020 Inc. 5000 Series: Florida, ranking at No. 180 of the fastest-growing Florida-based private companies.

Were honored to receive the Inc. 5000 award for the ninth time, as well as being named as one of Floridas fastest-growing companies in 2020, said Brian Harris, vice president of marketing at Spectrio. I am proud of how our team continues to serve our clients at a time when they need us most, while we also set new records for growth.

Spectrios growth has included the expansion of its engineering and product teams, allowing the Company to launch new solutions and complete integrations with major brands including Shutterstock and Amazon Alexa. Spectrio also released its new SHARE mobile application as well as SpectrioCloud, its online account and content management portal.

About Spectrio

Spectrio is one of the nations leading customer engagement technology providers. Known for cultivating unique brand experiences powered by professionally-produced content and marketing technology, Spectrios solutions create a holistic customer journey with Digital Signage, Interactive Kiosks, On-Hold Marketing, On-Premise Messaging and Music, Wi-Fi Marketing, and Scent Marketing. Spectrio serves more than 100,000 client locations, ranging from local businesses to global brands. For more information, visit www.Spectrio.com.

Megan Colby

Communications Director

[email protected]

800-584-4653 x6313

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