AERKOMM announces S-1 Registration Statement declared effective.
The U.S. Securities and Exchange Commission declared AERKOMM's Form S-1 registration statement effective on November 6, 2020, clearing the way for a maximum offering of 1,951,219 shares at €20.50 per share.
AERKOMM Inc. (Euronext Paris: AKOM; OTCQX: AKOM) has announced that the U.S. Securities and Exchange Commission declared its Form S-1 registration statement effective as of November 6, 2020.
The offering
The registration statement covers the sale of up to 1,951,219 shares — or approximately €40 million in common stock — at an offering price of €20.50 per share.
Use of proceeds
Offering proceeds are targeted for general corporate purposes:
- Working capital
- Product development
- Marketing activities
- Expanding the internal organization
- Capital expenditures, including construction of the company’s first ground station and data center in the Asia region
Filings
The SEC’s Notice of Effectiveness is accessible via the SEC website. The initial S-1 amendment filing was announced on November 5, 2020.
Source: PR Newswire ↗