Guerrilla RF, a leading provider of state-of-the-art RF and microwave communications solutions, has announced that it has completed its previously announced private placement equity financing, selling approximately 7.1 million units to accredited investors, each unit comprising one share of the Company’s common stock and one warrant to purchase one half (0.5) of a share of common stock -- for $1.30 per unit. The warrants have an exercise price of $2.00 per share and a term of five years. The private placement has resulted in aggregate gross proceeds of approximately $9.2 million.
The funds will provide the resources needed to support our working capital, expand our R&D initiatives and accelerate our growth through new market penetration, expand our product offerings, and capitalize on our strong competitive position,” said Ryan Pratt, Founder, and Chief Executive Officer of Guerrilla RF.
“These investments in our expanded design center, lab space, and R&D initiatives are expected to translate into future revenue. The strong investor demand is a positive indicator of confidence in our team’s ability to expand into different markets spanning automotive to SATCOM, GPS, and infrastructure-related projects.”
Laidlaw & Company (UK), Ltd. served as the placement agent for the offering. GP Nurmenkari, Inc. (as consulted by Intuitive Venture Partners), served as a selected dealer and Brooks, Pierce, McLendon, Humphrey & Leonard, LLP served as legal counsel for the Company.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of such state.
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