Amplitech Group Inc - AMPG STOCK NEWS

AmpliTech Group (Nasdaq: AMPG) has closed its previously announced registered direct offering, selling 1,603,259 shares of common stock (or pre-funded warrants) at $0.92 per share. The offering raised approximately $1.475 million in gross proceeds before deducting placement agent fees and expenses. Maxim Group served as the sole placement agent for the offering. The Securities were offered through a shelf registration statement on Form S-3, which was declared effective by the SEC on April 24, 2024.

AmpliTech Group (Nasdaq: AMPG) has announced a $1.4 million registered direct offering priced at-the-market. The company will issue 1,603,259 shares of common stock or pre-funded warrants at $0.92 per share to institutional investors. The offering, expected to close around November 26, 2024, is being conducted through Maxim Group as the sole placement agent. The proceeds will be approximately $1.4 million before deducting placement agent fees and offering expenses. The securities are being offered through a shelf registration statement previously declared effective by the SEC.

AmpliTech Group (Nasdaq: AMPG) has secured an initial Purchase Order worth nearly $1M from a Fortune 1000 U.S. company under a recently signed 5-Year Basic Order Agreement. The order includes LNB (Low-Noise Block Downconverters) products and engineering services, representing approximately 20% of the total average LNA sales from the AmpliTech Inc Division. The delivery is scheduled for the first half of fiscal year 2025. The company's proprietary low noise technology, used in their LNA products, is expected to enhance gross margins through in-house manufacturing capabilities.

AmpliTech Group (AMPG) reported Q3 2024 financial results with revenue of $2.834 million and gross profits of $1.347 million, achieving a 47.6% gross margin, representing a 5% increase from previous quarter. The company reported a reduced quarterly loss of $1.1 million, down from $1.57 million in Q2 2024. The loss was attributed to lower global and domestic sales, increased corporate expenses, and ongoing R&D efforts. As of September 30, 2024, AMPG maintained $2.35 million in cash and receivables, with working capital of $10.07 million and inventory valued at over $7 million.

AmpliTech Group (Nasdaq: AMPG) has secured a 5-year Basic Order Agreement (BOA) with a Fortune 1000 US company for LNB (Low-Noise Block Downconverters) products and engineering services. The agreement includes an automatic 3-year renewal extension. The company expects to receive the initial order shortly, with delivery scheduled for early FY2025. AmpliTech anticipates that annual sales of its newly launched LNB product line will match its LNA products sales, validating their R&D investment strategy. The LNB products, which are receiving devices mounted on satellite dishes, cover X band, Ka band, and Ku bands, offering superior low noise capabilities.

AmpliTech Group (Nasdaq: AMPG) has launched a new mobile 5G Network In A Box (NIB) product line, expanding from their previous fixed-site solution. The new lineup includes Backpack NIB, Rolling Suitcase NIB, and Vehicle Mounted NIB versions, designed for military, first responders, and commercial events. These portable solutions offer guaranteed Quality of Service, high speed, low latency, mobility without signal disruption, on-demand services, and enhanced security. The products complement AmpliTech's existing portfolio of Public 5G Massive MIMO radios and Private 5G fixed locations solutions.

AmpliTech Group's AGTGSS division has signed a 5-year supplier agreement with Fujitsu Spain to provide Private 5G Network products. The agreement covers Europe, Africa, and the Middle East, and includes a range of products such as 5G ORAN radios, Customer Premises Equipment (CPE), CU/DU and Core Servers, and other ancillary products for setting up Private 5G Networks.

This strategic partnership, which has been in development since early 2024, marks a significant milestone for AGTGSS in delivering advanced telecommunications infrastructure solutions globally. The agreement aims to enhance connectivity, signal reliability, and security for Fujitsu's end customers across various sectors.

AmpliTech Group's CEO, Fawad Maqbool, expressed enthusiasm about the agreement, highlighting it as a validation of their business development efforts in the Public and Private 5G segment. The company sees this as an opportunity for growth and global market adoption of their 5G products.

AmpliTech Group (Nasdaq: AMPG) has received a Notice of Allowance from the USPTO for two patent applications: one related to 5G technology based on proprietary low noise technology, and another for a cryogenic solution for Quantum Computing Applications. The formal patent certificates are expected within 30-45 days.

These patents protect AmpliTech's proprietary technology, enhancing performance and efficiency in two pivotal business segments. They validate the company's innovative approach in the rapidly growing 5G and quantum computing industries. CEO Fawad Maqbool stated that this milestone achievement demonstrates their commitment to innovation and cutting-edge technology, potentially paving the way for new opportunities in both sectors.

AmpliTech Group (Nasdaq: AMPG, AMPGW), a designer and manufacturer of signal processing components for communications networks, has received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company's stock failed to meet this requirement for 30 consecutive business days from August 15 to September 26, 2024.

The notice provides AmpliTech with a 180-day compliance period, until March 26, 2025, to regain compliance. To do so, the company's common stock must close at $1.00 or above for a minimum of ten consecutive business days. If compliance is not achieved by the deadline, AmpliTech may be eligible for additional time or face potential delisting. The company plans to monitor its stock price and evaluate options to regain compliance within the specified period.