DALLAS, Feb. 10, 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 5,647,059 shares of common stock at
a public offering price of $4.25 per
share for aggregate gross proceeds of $24,000,000 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 847,058 shares at the public offering
price less the underwriting discounts and commissions. The offering
is expected to close on Friday February 12,
2021, subject to satisfaction of customary closing
conditions.
The Company intends to use the net proceeds from the offering
primarily for the repayment of outstanding indebtedness and
payables, working capital, and general corporate purposes.
Kingswood Capital Markets, division of Benchmark Investments,
Inc., is acting as Sole Book Runner for the offering.
The Securities and Exchange Commission ("SEC") declared
effective a registration statement on Form S-1 relating to these
securities on February 10, 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
syndicate@kingswoodcm.com 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.
For more information about COMSovereign, please
visit www.COMSovereign.com and connect with us
on Facebook and Twitter.
About COMSovereign Holding Corp.
COMSovereign Holding
Corp. (Nasdaq: COMS) has assembled a portfolio of communications
technology companies that enhance connectivity across the entire
data transmission spectrum. Through strategic acquisitions and
organic research and development efforts, COMSovereign has become a
U.S.-based communications provider able to provide 4G LTE Advanced
and 5G-NR telecom solutions to network operators and enterprises.
For more information about COMSovereign, please
visit www.COMSovereign.com.
Forward-Looking Statements
Certain statements in this
press release that are not historical facts are forward-looking
statements that reflect management's current expectations,
assumptions, and estimates of future performance and economic
conditions, and involve risks and uncertainties that could cause
actual results to differ materially from those anticipated by the
statements made herein. Forward-looking statements are generally
identifiable by the use of forward-looking terminology such as
"believe," "expects," "may," "looks to," "will," "should," "plan,"
"intend," "on condition," "target," "see," "potential,"
"estimates," "preliminary," or "anticipates" or the negative
thereof or comparable terminology, or by discussion of strategy or
goals or other future events, circumstances, or effects. Moreover,
forward-looking statements in this release include, but are not
limited to, the impact of the current COVID-19 pandemic, which may
limit access to the Company's facilities, customers, management,
support staff, and professional advisors, and to develop and
deliver advanced voice and data communications systems, demand for
the Company's products and services, economic conditions in the
U.S. and worldwide, and the Company's ability to recruit and retain
management, technical, and sales personnel. Further information
relating to factors that may impact the Company's results and
forward-looking statements are disclosed in the Company's filings
with the SEC. The forward-looking statements contained in this
press release are made as of the date of this press release, and
the Company disclaims any intention or obligation, other than
imposed by law, to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
Contacts:
Steve Gersten, Director of
Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com
External Investor Relations:
Chris Tyson, Executive Vice
President
MZ Group - MZ North America
949-491-8235
COMS@mzgroup.us
www.mzgroup.us
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE COMSovereign Holding Corp.