oeg - OEG STOCK NEWS

Orbital Energy Group, Inc. (NASDAQ: OEG) announced the acquisition of IMMCO, Inc., a telecom engineering firm, by its subsidiary Gibson Technical Services (GTS). This strategic move aims to enhance GTS's service offerings and market position. IMMCO, with projected revenues of $10.6 million in 2021, adds significant expertise in 5G and fiber optic design. The acquisition builds on OEG's strategy to expand its diversified energy services platform and capitalize on the growing telecommunications market, particularly with the rollout of 5G technology.

Orbital Energy Group, Inc. (Nasdaq: OEG) will participate in the virtual D.A. Davidson Bison Select Conference on August 4, 2021, at 2:30 p.m. Eastern time. CEO Jim O'Neil and CFO Daniel Ford are set to present, providing investors with insights into the company's diversified energy services platform. This conference allows interaction with management from various sectors, focusing on small caps and emerging markets. A live webcast will be available on the company's website, highlighting their commitment to maximizing shareholder value and conducting business with integrity.

On July 26, 2021, Orbital Energy Group, Inc. (Nasdaq: OEG) announced the closing of a registered direct offering, selling 10,410,959 shares at $3.65 each, generating gross proceeds of $38 million. The funds will enhance growth in their telecommunications subsidiary, Gibson Technical Services, and support upcoming large solar projects through Orbital Solar Services. A.G.P./Alliance Global Partners acted as the sole placement agent. The offering utilized an effective shelf registration statement previously filed with the SEC.

Orbital Energy Group, Inc. (OEG) announced a registered direct offering of 10,410,959 shares of common stock priced at $3.65 per share, totaling approximately $38 million. The closing date is expected around July 23, 2021, subject to customary conditions. A.G.P./Alliance Global Partners acts as the sole placement agent. The offering is under an effective shelf registration statement filed with the SEC. Interested investors should review the prospectus supplement for detailed information.

Orbital Energy Group's subsidiary, Gibson Technical Services, has secured a project from Charter Communications for approximately 8,600 miles of full-service construction across Louisiana, Alabama, and North Carolina. This initiative is part of the Federal Government's Rural Digital Opportunity Fund, which allocates $20.4 billion for broadband expansion. Charter's $5 billion investment, supported by $1.2 billion from the RDOF auction, aims to enhance broadband access for over 1 million locations. The project is set to begin immediately and spans 5-6 years.

Orbital Energy Group, Inc. (NASDAQ: OEG) has announced that its subsidiary, Gibson Technical Services (GTS), won a project to install a Distributed Antennae System (DAS) for a major U.S. cellular carrier at an Atlantic Athletic Conference university stadium. The project will begin shortly and is set to conclude during the 2021 ACC football season. This award highlights GTS's expertise in engineering and construction services, particularly as DAS projects resume following pandemic delays. Orbital Energy's commitment to shareholder value and integrity remains a priority.

Orbital Energy Group (OEG) is set to join the Russell Microcap® Index effective June 28, 2021, following the annual reconstitution. This inclusion is anticipated to increase the company's visibility among institutional investors, potentially enhancing liquidity for shareholders. Russell indexes are significant benchmarks in the investment landscape, managing around $10.6 trillion in assets. OEG aims to create a diversified energy services platform, focusing on sectors like power, solar, and telecom services, which positions the company for future growth.

Orbital Energy Group's subsidiary, Orbital Solar Services, has secured a $64 million contract to build a 137-megawatt solar farm in Arkansas for a Fortune 100 energy company. This deal includes full Engineering, Procurement, and Construction (EPC) services, with completion expected in early 2022. OSS was selected due to its significant experience and capabilities, having executed over 40 solar projects worth more than 600 megawatts. The project highlights OSS’s industry recognition and Orbital’s focus on expanding its renewable energy portfolio.

Orbital Energy Group, Inc. (NASDAQ:OEG) announced the appointment of Paul T. Addison to its Board of Directors, effective immediately. With this addition, the Board expands to 8 directors, including 5 independents. Mr. Addison brings extensive experience in finance and the energy sector, having previously served as Managing Director at Citigroup. He has held key positions in various financial roles, contributing to significant deals, such as FirstEnergy's $4.7 billion acquisition of Allegheny Energy. His addition is expected to enhance shareholder value as Orbital Energy grows its footprint.