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Drone Aviation and LTE Advanced / 5G-NR Wireless Technology Provider ComSovereign Announce Merger
Drone Aviation and LTE Advanced / 5G-NR Wireless Technology Provider ComSovereign Announce Merger.
About this update from Comsovereign Holding Corp.
[{"type":"text","content":"\n\n\n\nDrone Aviation and LTE Advanced / 5G-NR Wireless Technology Provider ComSovereign Announce Merger\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\nDrone Aviation and LTE Advanced / 5G-NR Wireless Technology Provider ComSovereign Announce Merger\nCombined Organization to Focus on Penetration of 5G Systems to New and Existing Global Carrier Customer Base for Fixed Infrastructure and Aerial Mobile Communications Platforms\nPR Newswire\nJACKSONVILLE, Fla., Dec. 4, 2019\n\n\n\nJACKSONVILLE, Fla., Dec. 4, 2019 /PRNewswire/ -- Drone Aviation Holding Corp. (OTCQB: DRNE) (\"Drone Aviation\" or the \"Company\"), a developer of specialized, tethered aerial monitoring and communications platforms serving national defense and homeland security customers, announced today that it has closed on a merger with ComSovereign Corp, a U.S.-based consortium of 5G telecommunications radio, silicon photonics and power systems designed for the next generation of global networks.\n\n \n \n\n \nThe newly merged company will focus on supplying ComSovereign's existing global wireless carrier customer base with new infrastructure technology including industry leading carrier backhaul capability and 5G/NR connectivity for fixed and mobile aerial applications. As a result of the transaction, Drone Aviation has postponed FINRA's previously approved reverse stock split of its shares due to the merger and the change in the board structure. The name of the Company will be changed from Drone Aviation Holding Corp. to ComSovereign Holding Corp. as soon as possible in accordance with State, FINRA and SEC notice requirements, currently expected by December 15th, 2019.\nAs part of the merger, the Company has enacted a number of management and board personnel changes including the resignation of its CEO and Director, Dan Erdberg, and the appointment of Dan Hodges as Chairman and CEO. Drone Aviation's former Chairman, David Aguilar, will remain as a Director. The members of the Board of Directors of the combined Company include leaders from the government, technology, accounting and finance indust...