ComSovereign Raises $8M Via Preferred Offering, Began Trading Today

ComSovereign Holding Corp COMS priced 0.32 million shares of its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock at $25 per share.
The estimated offer proceeds are $8 million. The offering proceeds will help to repay debt and for general corporate and working capital purposes.
The shares started trading on the Nasdaq today (on October 28, 2021), under the symbol "COMSP."
The underwriters have a 30-day option to purchase additional shares up to 48,000.
Price Action: COMS shares traded lower by 6.21% at $1.36 on Wednesday.

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