COMSovereign Holding Corp. (NASDAQ:COMS) Reports the pricing of an underwritten public offering of 5,647,059 shares

On Feb. 10, 2021, COMSovereign Holding Corp. (NASDAQ:COMS) a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, released the pricing of an underwritten public offering of 5,647,059 shares of common stock at a public offering price of $4.25 per share for aggregate gross proceeds of $24,000,000 prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 847,058 shares at the public offering price less the underwriting discounts and commissions. The offering is expected to close on Friday February 12, 2021, subject to satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering primarily for the repayment of outstanding indebtedness and payables, working capital, and general corporate purposes. Its earnings per share (EPS) expected to touch remained 36.30% for this year. COMS has a gross margin of 42.10%.

According to the most recent quarter its current ratio was 0.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.18% from the mean of 20 days, -11.86% from mean of 50 days SMA and performed -6.76% from mean of 200 days price. Company’s performance for the week was 8.26%, -24.20% for month and YTD performance remained -17.00%.

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Shawn Harris

Shawn Harris is a Master’s in Business Administration by education. After completing his post-graduation, Shawn jumped the journalism bandwagon as a freelance journalist. Soon after that he landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor. As an avid day trader, Shawn is a master of technical analysis and writes tirelessly on how stocks are trading. He has extensive knowledge in technical analysis & news writing.

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