AmpliTech Group Enters into Securities Purchase Agreement with Institutional Investors

On December 11, 2024, AmpliTech Group, Inc. (NASDAQ: AMPG) announced that it has entered into a Securities Purchase Agreement with three institutional investors for a registered direct offering. The agreement entails the sale of 1,352,500 shares of the company’s common stock at a price of $1.60 per share. The closing of this offering is expected to take place on December 13, 2024.

The gross proceeds from the offering are anticipated to be approximately $2,164,000 before accounting for the placement agent’s fees and other related offering expenses that the company is liable for. As per the terms of the Purchase Agreement, AmpliTech has committed to a lock-up period of 45 days post the Closing Date, during which the company agreed not to issue any shares of common stock or any related securities convertible into or exchangeable for common stock.

In conjunction with the Securities Purchase Agreement, AmpliTech also entered into a Placement Agency Agreement with Maxim Group LLC, whereby the Placement Agent will receive a fee equal to 7.0% of the total gross proceeds derived from the sale of shares in the offering. Additionally, the Placement Agent will be reimbursed for accountable expenses, including legal counsel’s fees, up to $30,000.

The company’s directors and executive officers have agreed, per a Lock-Up Agreement with the Placement Agent, to refrain from selling or transferring any common stock of AmpliTech or securities convertible into company stock for 45 days after the Closing Date, with certain exceptions allowed.

Associated documents such as the Securities Purchase Agreement, Placement Agency Agreement, and the Lock-Up Agreement are included as Exhibits 10.1, 10.2, and 10.3, respectively, in the Current Report on Form 8-K filed by AmpliTech. A legal opinion issued by the company’s legal counsel regarding legal matters pertaining to the offering and the validity of the securities offered has been filed as Exhibit 5.1 and incorporated into the Prospectus Supplement dated December 11, 2024.

Investors seeking detailed information on these transactions are advised to refer to the respective agreements, as the summaries provided within the 8-K filing are intended solely to offer an overview of the terms of the deals without delving into exhaustive factual information about AmpliTech.

The AmpliTech Group’s stock is listed on The Nasdaq Stock Market LLC under the symbols “AMPG” for Common Stock and “AMPGW” for Warrants to Purchase Common Stock.

This report adheres to the guidelines of the Securities and Exchange Commission and the requirements of the Securities Exchange Act of 1934 as detailed in the Form 8-K filing by AmpliTech Group, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AmpliTech Group’s 8K filing here.

AmpliTech Group Company Profile

AmpliTech Group, Inc designs, engineers, and assembles micro-wave component-based amplifiers. The company’s products include radio frequency (RF) amplifiers and related subsystems, such as low noise amplifiers for use in receivers of various communication systems comprising Wi-Fi, radar, satellite, base station, cell phone, radio, etc.; and medium power amplifiers that provide enhanced output power and gain in transceiver chains.