AES Semigas


5 January 2023

Guerrilla RF announces initial closing of $5m in private placement equity financing

Guerrilla RF Inc (GRF) of Greensboro, NC, USA – a provider of radio-frequency integrated circuits (RFICs) and monolithic microwave integrated circuits (MMICs) for wireless applications – has announced the initial closing of its private placement, providing gross proceeds of about $5m (not including any additional proceeds that may be received upon further closings or the exercise of warrants).

Accredited investors purchased about 3,900,000 units, each comprising one share of the firm’s common stock and one warrant to purchase 0.5 of a share for $1.30 per unit. The warrants have an exercise price of $2.00 per share and a term of five years.

“The successful execution of this offering is a testament to the opportunity that our investors see in the company,” says CEO & founder Ryan Pratt. “Since 2020, we have grown the number of new products launched and also dramatically developed our GPS navigation and IoT sales,” he adds. “The funds raised through this offering will be used to fund the company’s new headquarters and also support our continued growth.”

Laidlaw & Company (UK) Ltd served as the placement agent for the offering. GP Nurmenkari Inc (as consulted by Intuitive Venture Partners) served as a selected dealer, and Brooks, Pierce, McLendon, Humphrey & Leonard LLP served as legal counsel for the company.

See related items:

Guerrilla RF surpasses 150 million RFIC/MMIC deployments

Guerrilla launches InGaP HBT power amplifier in expansion into cellular market

Tags: power amplifier LNA


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