AES Semigas


2 April 2024

Guerrilla RF completes $5m private placement equity financing and debt conversion

Guerrilla RF Inc (GRF) of Greensboro, NC, USA — which develops and manufactures radio-frequency integrated circuits (RFICs) and monolithic microwave integrated circuits (MMICs) for wireless applications — has completed a private placement equity financing, selling about 2 million shares of its common stock and accompanying warrants to purchase up to 2 million shares of its common stock. The aggregate offering price per share and accompanying warrant sold in the private placement to accredited investors was $2.50. The warrants have an exercise price of $2.50 per share and a term of five years. The private placement resulted in aggregate net proceeds of about $2.9m to the company, after deducting fees and expenses for the transaction and a $1.5m reduction in outstanding debt as a result of debt converting into equity.

In connection with the capital raise, the firm’s primary lender has extended the maturity of its $12m debt facility from April 2024 to January 2026, allowing Guerrilla RF to continue the execution of its strategic plan.

“We expect the funds from this capital raise should allow the company to reach EBITDA break-even, and support our working capital needs and R&D initiatives, as we accelerate our growth through new market penetration and capitalize on our strong competitive position,” says founder & CEO Ryan Pratt.

See related items:

Guerrilla RF’s Q4 revenue almost doubles year-on-year to record $4.7m

Guerrilla RF completes final closing of $9.2m private placement equity financing

Tags: power amplifier



Book This Space