RTTNews | Oct 25, 2021 08:46AM EDT

08:46 Monday, October 25, 2021 (RTTNews.com) - Outerbridge Capital Management, LLC has sent a letter to the Board of Comtech regarding the company's announcement of a $100 million investment from White Hat Capital Partners LP and Magnetar Capital LLC. Outerbridge believes this deal sacrifices shareholder value, while diluting existing investors by more than 15%. It stated that the dilutive transaction is nothing more than a blatant maneuver to entrench the current Board and management.

Outerbridge said Comtech should issue a broad mandate to a new financial advisor to undertake a bona fide strategic review with the goal of enhancing shareholder value rather than entrenching management and the Board.

Outerbridge Capital Management, LLC is a beneficial owner of approximately 4.95% of Comtech Telecommunications Corp.

Read the original article on RTTNews ( https://www.rttnews.com/3235144/outerbridge-asks-comtech-to-undertake-bona-fide-strategic-review-quick-facts.aspx)

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