Aerkomm Announces Intention to Upgrade Listing Status on Euronext

Rhea-AI Summary

Aerkomm Inc. (Euronext Paris: AKOM; OTCQX: AKOM) announced on April 1, 2021, its intention to upgrade its listing status to the regulated market of Euronext Paris. The Company has filed a preliminary draft prospectus, pending approval by the Authorité Des Marches Financiers (AMF). The upgraded listing aims to enhance visibility and trading of Aerkomm’s common stock, currently listed on the Professional Segment of Euronext Paris. Shares will not be available for U.S. investors, adhering to the Securities Act regulations. Aerkomm specializes in in-flight entertainment and connectivity services.

Positive

• Intention to upgrade listing to the regulated market of Euronext Paris.
• Enhancing visibility for Aerkomm's common stock.
• Focused on in-flight entertainment and connectivity services, positioning for potential growth.

Negative

• Shares not available to U.S. investors, limiting market access.
• Company remains in development stage, implying potential risks.

FREMONT, Calif., April 7, 2021 /PRNewswire/ -- Aerkomm Inc. ("Aerkomm" or "the Company") (Euronext Paris: AKOM; OTCQX: AKOM), a development stage service provider of In-Flight Entertainment and Connectivity solutions for the airline industry using Ka-band technology, today announced that on April 1, 2021, the Company filed a preliminary draft prospectus (the "Prospectus") with Euronext in Paris, a regulated market of Euronext Paris S.A. ("Euronext Paris"), in connection with the Company's application for the listing and the admission to trading of the Company's common stock, $0.001 par value per share (the "Common Stock"), on the regulated market of Euronext Paris (Compartment C).  The Common Stock is currently listed and traded on the Professional Segment of Euronext Paris, and the Company would now like to upgrade the listing to the regulated market.

Shares of the Company's Common Stock will be offered in Europe through a final Prospectus only after the Prospectus is filed with, and approved by, the Authorité Des Marches Financiers (AMF). Shares of the Company's Common Stock to be offered through the Prospectus will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or with any state securities authorities, and may not be offered and sold within the United States or to any U.S. person (as that term is defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act and in compliance with applicable state securities laws.

About Aerkomm Inc.

Aerkomm Inc. (Euronext Paris: AKOM; OTCQX: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.

More information about Aerkomm is available at www.aerkomm.com.

Safe Harbor Statement

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our periodic filings with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended, as well as in our Registration Statement on Form S-1 filed with the SEC (SEC File No. 333-237942) on April 30, 2020, as amended to date. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
William Zima
ICR Inc.
William.Zima@icrinc.com
+1 (203) 682-8233

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SOURCE Aerkomm Inc.

FAQ

When did Aerkomm announce its intention to upgrade its listing status?

Aerkomm announced its intention to upgrade its listing status on April 1, 2021.

What is the current listing status of Aerkomm on Euronext Paris?

Aerkomm's common stock is currently listed on the Professional Segment of Euronext Paris.

What is Aerkomm's stock symbol on Euronext Paris?

Aerkomm's stock symbol on Euronext Paris is AKOM.

Will Aerkomm's shares be available to U.S. investors?

No, Aerkomm's shares will not be registered in the United States and thus will not be available to U.S. investors.

What services does Aerkomm provide?

Aerkomm provides in-flight entertainment and connectivity solutions for the airline industry.