AmpliTech Group Announces Highlights of $23 Million Capital Raise
AmpliTech Group, Inc. (NASDAQ: AMPG) has successfully raised over $30 million since its Nasdaq uplist on February 17, 2021. This capital aims to strengthen the company's financial position, enabling larger orders and an expanded customer base. Key allocations include enhancing sales forces, expanding production, and funding R&D. The capital raise reflects strong investor confidence in AmpliTech's growth strategy, allowing for potential debt reduction and M&A activities to bolster future sustainability.
- Raised over $30 million since February 17, 2021, enhancing financial strength.
- Investor confidence indicated by at-the-market capital raise.
- Supports strategic growth initiatives, including sales force expansion and production capabilities.
- Ability to reduce debt and pursue M&A opportunities.
- None.
BOHEMIA, N.Y., April 20, 2021 /PRNewswire/ -- AmpliTech Group, Inc. (NASDAQ: AMPG) (the "Company"), a designer, developer, and manufacturer of custom and standard state-of-the-art RF components for Commercial, SATCOM, Space, Defense, and Military markets, announced today that it has raised more than
CEO, Fawad Maqbool, stated, "We are pleased to see the level of interest by so many investors in these capital raises. We have raised this capital to strengthen the company financially, and thus be in a better position to fulfill larger orders and broaden our customer base."
Company's Plan for Allocation of Proceeds:
- Fund organic growth by sales force expansion and boosting business development and marketing efforts.
- Expand production capabilities and strengthen Operations team.
- Make strategic accretive acquisitions and/or acquire complementary intellectual property.
- Fund research and development for continued organic growth.
- Purchase capital equipment to increase productivity and engineering support.
Key Highlights as a result of Capital Raise:
- Strong balance sheet and cash position for AmpliTech Group to stay focused on growth and hedge against future market volatility.
- At-the-market capital raise shows investor confidence in AmpliTech Group's ability to execute on their plan for growth and leadership position in industry.
- Institutional investment support validates AmpliTech Group's plan for longer-term growth and sustainability.
- Ability to pay down debt.
- Ability to use cash and non-dilutive methods to fund M&A activities.
What Does AMPG Want to Achieve if They Successfully Execute Their Plan?
- Downloads of movies on smart devices in SECONDS, not minutes with true 5G connections.
- Ability to enable high-speed 5G connectivity and Wi-Fi in airlines, just like we get at home.
- 5G internet SATELLITE networks in space beaming down to smart devices on the ground, anywhere in the world.
- Participate in international race for Quantum Supremacy and be designed into Quantum computers that can crunch zetabytes of data in seconds.
- Provide technology that accelerates the arrival of fully autonomous vehicles streaming data at speeds greater than 1 Gigabyte/second from 5G wireless base stations and cell sites.
- Enable billions of connected devices and millions of connected users, SIMULTANEOUSLY, on true 5G networks
- Facilitate the development of ANTI-HACKABLE, secure 5G networks and true CYBER-SECURITY using HARDWARE chipsets, not software.
- Be inside Smart Homes and Smart Cities
This is the world that AmpliTech Group envisions, and should improve everyone's quality of life.
About AmpliTech Group, Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components for the Domestic and International, SATCOM, Space, Defense and Military markets. These designs cover the frequency range from 50 kHz to 40 GHz - eventually, offering designs up to 100 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 13+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented to us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Website: http://www.AmpliTechinc.com.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors.
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SOURCE AmpliTech Group, Inc.
FAQ
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