Business
Dr. Phillip Frost Leads Investment in Drone Aviation Holding and Is Appointed Chairman of Its Strategic Advisory Board
Dr. Phillip Frost Leads Investment in Drone Aviation Holding and Is Appointed Chairman of Its Strategic Advisory Board.
About this update from Comsovereign Holding Corp.
[{"type":"text","content":"\n \n \n Dr. Phillip Frost Leads Investment in Drone Aviation Holding and Is Appointed Chairman of Its Strategic Advisory Board\n \n \nDr. Phillip Frost Leads Investment in Drone Aviation Holding and Is Appointed Chairman of Its Strategic Advisory Board\n \n JACKSONVILLE, FL--(Marketwired - Aug 28, 2014) - Drone Aviation Holding Corp. (OTCQB: DRNE), a developer of specialized tethered drones and lighter-than-air aerostats, today announced that it formed a Strategic Advisory Board that will be headed by Dr. Phillip Frost and that it has accepted subscriptions in a private placement of securities of the Company. Joining Dr. Frost on the newly formed Board is Mr. Steve Rubin.\n The Company accepted subscriptions for an aggregate of 1,100,333 shares (the \"Shares\") of the Company's Series F Convertible Preferred Stock, each of which is convertible into one (1) share of Common Stock of the Company, in a private placement of up to $1,500,000 of its securities to certain accredited investors at a purchase price of $0.75 per Share for an aggregate purchase price of $825,250. Dr. Frost led the investment in the private placement.\n \"Dr. Frost has a distinguished entrepreneurial track record of success throughout the business community as well as the public marketplace and we are honored to have him Chair our Strategic Advisory Board and as an investor in our Company,\" stated Felicia Hess, CEO of Drone Aviation Holding Corp. \"His extensive government and military relationships during his 13 year tenure as a Director of Northrop Grumman, combined with his capital market expertise, make him an ideal Chairman to lead our newly formed Strategic Advisory Board.\"\n Phillip Frost, M.D. currently serves as the Chairman of the Board and Chief Executive Officer of OPKO Health, Inc., a specialty pharmaceutical company. Additionally, Dr. Frost serves as Chairman of the Board of Directors of TEVA Pharmaceuticals, Ltd., Ladenburg Thalmann Financial Services, Inc. and Prolor Biotech, Inc. and also serves as a Director of Castle Brands, Inc. \n Previously, Dr. Frost served as a Director for Northrop Grumman Corp., a global defense company that generates approximately $25 billion in annual revenue and provides technologically advanced, innovative products, services and solutions in systems integration, defense electronics, information technology, adv...