Guo Man

revealed that they own a 16.4% stake in AirMedia Group Inc (NASDAQ:AMCN) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, November 17th. The investor owns 20,584,214 shares of the stock valued at approximately $40,962,586. The reporting parties listed on the disclosure included Herman Man Guo, Wealthy Environment Limited, Dan Shao, Global Earning Pacific Limited, Qing Xu and Mambo Fiesta Limited. The filing is available through EDGAR at this link.

Guo Man

provided the following explanation of their ownership:

Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following text as the sixth paragraph of the section with the caption of “Merger Agreement”:
“On October 31,2017, Parent, Merger Sub and the Company entered into an amendment to the agreement and plan of merger (the “Merger Agreement Amendment No. 5”), pursuant to which Parent and Merger Sub agreed to provide real properties as an alternative to the abovementioned cash escrow or letter of credit under the Merger Agreement Amendment No. 4. On the same date, Parent entered into a Multiparties Agreement with the Company, AirMedia Technology (Beijing) Co., Ltd., an indirect wholly owned subsidiary of the Company, and other parties named therein, pursuant to which Ms. Dan Shao provided a mortgage over two real properties owned by her with an aggregate appraisal value of RMB 89,027,951 for the benefit of the Company and its subsidiaries as security and collateral for parent’s payment obligation of the parent termination fee.”

Separately, First Manhattan Co. increased its stake in AirMedia Group by 29.8% during the 3rd quarter. First Manhattan Co. now owns 1,073,952 shares of the business services provider’s stock valued at $2,674,000 after purchasing an additional 246,500 shares in the last quarter. Institutional investors and hedge funds own 4.48% of the company’s stock.

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Shares of AirMedia Group Inc (AMCN) traded down $0.03 during trading on Friday, reaching $1.99. 210,900 shares of the company’s stock were exchanged, compared to its average volume of 259,941. AirMedia Group Inc has a twelve month low of $1.35 and a twelve month high of $3.30.

AirMedia Group Profile

AirMedia Group Inc is an operator of out-of-home advertising platforms in China. The Company is engaged in selling advertising time slots on its network, primarily air travel advertising network. It holds concession rights to install and operate wireless fidelity (Wi-Fi) systems on trains administered by over eight regional railway administrative bureaus in China.

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