COMSovereign Announces Pricing of Public Offering of 320,000 Shares of Series A Cumulative Redeemable Perpetual Preferred Stock

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DALLAS, Oct. 27, 2021 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions today announced the pricing of its public offering of 320,000 shares of its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") at a price to the public of $25.00 per share. Gross proceeds from the offering are expected to be approximately $8 million, before deducting offering expenses.

COMSovereign Holding Corp. (PRNewsfoto/COMSovereign Holding Corp.)
COMSovereign Holding Corp. (PRNewsfoto/COMSovereign Holding Corp.)

The shares of Series A Preferred Stock are expected to start trading on The Nasdaq Capital Market on October 27, 2021, under the symbol "COMSP." The offering is expected to close on or about October 29, 2021, subject to the satisfaction of customary closing conditions.

The underwriters have been granted a 30-day option to purchase up to 48,000 additional shares of Series A Preferred Stock from the Company, exercisable in whole or in part, solely to cover over-allotments, at the public offering price less the underwriting discount.

The Company intends to use the net proceeds from the offering for the repayment of outstanding indebtedness and for general corporate and working capital purposes.

The Benchmark Company, LLC is acting as sole book-running manager for the offering. Aegis Capital Corp. is acting as lead manager and Spartan Capital Securities, LLC is acting as co-manager.

The Series A Preferred Stock was offered under the Company's shelf registration statement on Form S-3 (File No. 333-259307), which was declared effective by the Securities and Exchange Commission ("SEC") on September 14, 2021. A preliminary prospectus supplement and an accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. A final prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, by contacting The Benchmark Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th Floor, New York, New York 10155 or by calling (212) 312-6700 or by emailing prospectus@benchmarkcompany.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS and COMSP) has assembled a portfolio of communications technology companies that enhance connectivity across the entire network. By combining strategic acquisitions with organic research and development efforts, COMSovereign has built a U.S.-based communications solution provider able to deliver end-to-end 4G LTE Advanced and 5G-NR telecom solutions to network operators, enterprises, and governments. For more information about COMSovereign, please visit www.COMSovereign.com.

Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations for COMSovereign Holding Corp.:

Steve Gersten, Director of Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com

External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
COMS@mzgroup.us
www.mzgroup.us

and

Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

Cision
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SOURCE COMSovereign Holding Corp.

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