DALLAS, May 25, 2022 /PRNewswire/ -- COMSovereign
Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the
"Company"), a U.S.-based developer of 4G LTE Advanced and 5G
communication systems and solutions, today announced that its Board
of Directors has suspended the payment of dividends on the
Company's 9.25% Series A Cumulative Redeemable Perpetual Preferred
Stock (the "Series A Preferred Stock") until further notice.
The Company has paid the monthly dividend for May 2022 as previously announced on April 7, 2022 but is suspending its monthly
Series A Preferred Stock dividend going forward in an effort to
preserve cash while it is completing the audit of its Annual Report
on Form 10-K for the year ended December 31,
2021 and continues to pursue the sale of non-core business
In accordance with the terms of the Series A Preferred Stock,
dividends on the Series A Preferred Stock will accrue until such
dividends are authorized or declared. The Board intends to revisit
the resumption of its monthly dividend in the future when
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
About COMSovereign Holding Corp.
Holding Corp. (Nasdaq: COMS
and COMSP) has assembled a portfolio of
communications technology companies that enhance connectivity
across the entire network. By combining strategic acquisitions with
organic research and development efforts, COMSovereign
has built a U.S.-based communications solution provider able
to deliver end-to-end 4G LTE Advanced and 5G-NR
telecom solutions to network operators, enterprises, and
governments. For more information about COMSovereign,
please visit www.COMSovereign.com.
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. 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.
Investor Relations for COMSovereign Holding Corp.:
Steve Gersten, Director of
COMSovereign Holding Corp.
Media Relations for COMSovereign Holding Corp.:
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SOURCE COMSovereign Holding Corp.