COMSovereign Holding Corp. Announces Nasdaq Listing and Pricing of $16.0 Million Public Offering
DALLAS, Jan. 21, 2021 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS) ("ComSovereign" or "Company"), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, today announced the pricing of an underwritten public offering of 3,855,422 units consisting of one share of common stock and one warrant exercisable for one share of common stock at a public offering price of $4.15 per unit for aggregate gross proceeds of $16,000,001 prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 578,312 units at the public offering price less the underwriting discounts and commissions. The offering is expected to close on January 26, 2021, subject to satisfaction of customary closing conditions.
The Company has received approval to list its common stock and warrants on the Nasdaq Capital Market under the symbols "COMS" and "COMSW", respectively, with trading expected to begin on January 22, 2021.
The Company intends to use the net proceeds from the offering primarily for the repayment of outstanding indebtedness, the acquisition of new companies or products, inventory production and marketing, operating expenses, working capital and general corporate purposes.
Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as Sole Book Runner with Dawson James Securities Inc. acting as Co-Manager for the offering.
The Securities and Exchange Commission ("SEC") declared effective a registration statement on Form S-1 relating to these securities on January 21, 2021. A final prospectus relating to this offering will be filed with the Securities and Exchange Commission. When available, copies of the final prospectus relating to this offering can be obtained at the SEC's website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at firstname.lastname@example.org or telephone at (212) 404-7002. Before investing in this offering, interested parties should read in their entirety the prospectus, which provides more information about the Company and such offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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SOURCE COMSovereign Holding Corp.
Company Codes: NASDAQ-CM:COMS, NASDAQ-CM:COMSW, OTC-PINK:COMS
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