AmpliTech Group Announces Pricing of $1.4 Million Registered Direct Offering, Priced At-The-Market
Summary
HAUPPAUGE, N.Y., Nov. 25, 2024 -- (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW) (the Company), a designer, developer, and manufacturer of state-of-the-art signal processing components for satellite, Public and Private 5G, and other communications networks, including the design of complete 5G/6G systems and a global distributor of packages and lids for integrated circuits assembly, today announced that it has entered into one or more securities purchase agreements with certain institutional investors to purchase 1,603,259 shares of common stock (or pre-funded warrants in lieu thereof) (the Securities) at an offering price of $0.92 per share, in a registered direct offering, priced at-the-market using the 5 day average closing price under Nasdaq rules.The gross proceeds to the Company from the registered direct offering are estimated to be approximately $1.4 million before deducting the placement agents fees and other estimated offering expenses. The offering is expected to close on or about November 26, 2024, subject to the satisfaction of customary closing conditions.Maxim Group LLC is acting as the sole placement agent in connection with the offering.The Securities are being offered pursuant to a shelf registration statement on Form S-3 (File No. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SECs website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or telephone at (212) 895-3500.AmpliTech Group, Inc., comprising five divisionsAmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services is a leading designer, developer, manufacturer, and distributor of cutting-edge radio frequency (RF) microwave components and 5G network solutions. Serving global markets, including satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, AmpliTech Group is committed to advancing technology and innovation.All statements in this release that are not based on historical fact are forward-looking statements including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.