Business
Aerkomm Inc. Closes a Total of $43.56 Million In Funding
Aerkomm Inc. Closes a Total of $43.56 Million In Funding.
About this update from Aerkomm Inc.
[{"type":"text","content":"\n\n\n\nAerkomm Inc. Closes a Total of $43.56 Million In Funding\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAerkomm Inc. Closes a Total of $43.56 Million In Funding\nPR Newswire\nFREMONT, Calif., Aug. 16, 2018\n\n\n\nFREMONT, Calif., Aug. 16, 2018 /PRNewswire/ -- Aerkomm Inc. (OTCQX: AKOM) (\"Aerkomm\" or the \"Company\"), today announced that it has sold a total of 5,124,706 shares of its common stock at $8.50 per share or $43,560,000 in gross proceeds before expenses and underwriting commissions in its ongoing public offering.\n\n\n \n \n\n \nAs previously disclosed, the Company announced an offering of between $5 million and $60 million (with an over-subscription allotment of up to an additional $9,000,000) of its common stock. Boustead Securities, LLC is sole underwriter for this \"best efforts\" offering. Aerkomm continues to accept subscriptions in its offering at $8.50 per share up to a maximum of $69 million. The offering has been extended and will remain open until September 5, 2018. Aerkomm, through its wholly owned operating subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry.\n\nAerkomm Chairman and CEO Jeffrey Wun said, \"As we move closer to completing our current public offering, we have been executing on our business plan and positioning the Company for much success in the near future.\"\n\nThe Company plans to use the net proceeds of the offering for general corporate purposes, including working capital, product development, marketing activities, expanding its internal organization and certain capital expenditures including the purchase of land for the building of its first ground station and data center in the Asia region.\n\nAerkomm's common stock is currently quoted on the OTCQX under the symbol \"AKOM.\"  The Company, as disclosed in its offering prospectus, has applied to list its common stock for trading on a national stock exchange.\n\nA copy of the Company's registration statement on Form S-1, including a post-effective amendment No. 2 w...