Comtech Announces $45 Million Strategic Investment and Exchange of Convertible Preferred Stock
In connection with the investment, the Company exchanged all outstanding shares of Comtech’s existing convertible preferred stock for a new series of convertible preferred stock.
- In connection with the investment, the Company exchanged all outstanding shares of Comtech’s existing convertible preferred stock for a new series of convertible preferred stock.
- “Magnetar and White Hat understand our Company, our end markets, and the potential of our One Comtech vision.
- “We recognize Comtech’s potential and believe this investment further supports the Company’s commitment to developing and delivering mission-critical solutions for its customers.”
White Hat and Magnetar purchased $45.0 million of a new series of convertible preferred stock and exchanged all outstanding shares of Comtech’s existing convertible preferred stock for shares of the new series of convertible preferred stock. - Further details will be included in the Company’s Current Report on Form 8-K to be filed with the Securities and Exchange Commission.