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COMSovereign Holding Corp. (NASDAQ: COMS) has announced a public offering of 5,647,059 shares at $4.25 each, aiming to raise $24 million. This offering includes a 45-day option for underwriters to purchase an additional 847,058 shares. The net proceeds will primarily address outstanding debts, working capital, and other corporate needs. The offering is set to close on February 12, 2021, subject to customary conditions. Kingswood Capital Markets acts as the Sole Book Runner. The SEC approved the registration statement on February 10, 2021.
COMSovereign Holding Corp. (Nasdaq: COMS) has finalized the acquisition of a 140,000 sq. ft. manufacturing facility in Tucson, Arizona. This site will become the principal manufacturing hub for the company's 4G LTE and 5G communication products, supporting their goal of producing goods in the U.S. Improvements to the facility are underway, with production expected to begin in the third quarter of 2021. The acquisition is part of a strategy to enhance operational efficiency and accelerate product delivery for both commercial and government markets.
COMSovereign Holding Corp. (NASDAQ: COMS) announced the acquisition of Skyline Technology Partners, LLC d/b/a Fastback Networks for approximately $14 million. This transaction includes Fastback's operations, radio designs, customers, and a robust intellectual property portfolio consisting of 65 granted and 6 pending patents vital to 5G wireless networking. The acquisition aims to expand COMSovereign's tier one customer base and capitalize on growing demand for advanced telecommunications solutions, integrating Fastback's technology to enhance service offerings.
COMSovereign Holding Corp. (NASDAQ: COMS) has completed its public offering of 3,855,422 units at $4.15 each, generating approximately $16 million in gross proceeds. Each unit consists of one share of common stock and a warrant exercisable at $4.50. The proceeds will primarily support debt repayment, acquisitions, inventory production, and general corporate uses. Additionally, Kay Kapoor has joined the board as an independent director. The offering was facilitated by Kingswood Capital Markets and Dawson James Securities.
COMSovereign Holding Corp. (NASDAQ: COMS) announced a public offering of 3,855,422 units at $4.15 per unit, aiming for gross proceeds of $16,000,001. Each unit comprises one share of common stock and a warrant for one additional share. The offering is set to close on January 26, 2021, with a 45-day option for underwriters to purchase an additional 578,312 units. Proceeds will be used for debt repayment, acquisitions, inventory production, and working capital. Trading of the stock and warrants on Nasdaq is expected to start on January 22, 2021.