Benzinga | Sep 3, 2021 04:01PM EDT

COMSovereign Files Form S-3 Mixed "Shelf" Registration with Securities and Exchange Commission

COMSovereign Holding Corp. (NASDAQ:COMS) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, today announced the filing of a mixed shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). Once declared effective by the SEC, the shelf registration statement will allow the Company to sell up to $65 million of various types of securities over the next three years.

"Over the course of this year, COMSovereign has been executing against an aggressive growth plan and achieved several technological and production milestones as it delivers on the promises of 'Made in the USA' 4G LTE, 5G and aerial communications platforms designed for public and private network operators and the military. With the filing of this mixed shelf, we gain important financial flexibility and access to additional forms of growth capital, especially non-dilutive instruments, as we do not plan to issue common equity at the current share price levels. Furthermore, with this mixed shelf, we have the capability to secure capital as needed to invest in our growth, pay down any incurred debt as it makes sense, and protect shareholder value," said Dan Hodges, Chairman and CEO of COMSovereign Holding Corp.

The shelf registration statement relating to the securities has been filed with the SEC but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the shelf registration statement becomes effective under the Securities Act of 1933, as amended. Once declared effective by the SEC, the shelf registration statement will be in effect for a period of three years, or such shorter period that the securities registered under the shelf registration statement have been issued or sold.

The specifics of any future offering, along with the prices and terms of any such securities and the use of proceeds of a particular offering, will be determined at the time of any such offering and will be described in a prospectus supplement filed in connection with such offering. Any offering of the securities will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. A copy of the preliminary prospectus included in the registration statement may be obtained on the SEC's website at www.sec.gov.