Amplitech Group Inc. (AMPG) Prices 2.715M Share Registered Direct Offering Priced At-The-Market

April 15, 2021 9:12 AM EDT

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AmpliTech Group, Inc. (NASDAQ: AMPG) today announced that it has entered into definitive agreements with certain institutional investors for the sale of an aggregate of 2,715,000 shares of common stock in a registered direct offering priced at-the-market under Nasdaq rules. Concurrently, the Company agreed to issue to the investors, in a private placement, warrants to purchase an aggregate of 1,900,500 shares of common stock at an exercise price of $8.48 per share with a five year term. The combined purchase price for one share of common stock and 0.70 warrants is $8.48. The aggregate gross proceeds to the Company are expected to be approximately $23.0 million, before deducting placement agent's fees and expenses of the offering payable by the Company. The offering is expected to close on or about April 16, 2021, subject to satisfaction of customary closing conditions.

The offering is expected to close on or about April 16, 2021, subject to satisfaction of customary closing conditions.

Maxim Group LLC is acting as the exclusive placement agent for the offering.

The shares of common stock described above are being offered pursuant to a "shelf" registration statement (File No. 333-254969) filed with the Securities and Exchange Commission, or SEC, on April 1, 2021 and declared effective on April 14, 2021. The warrants issued in the concurrent private placement and shares issuable upon exercise of such warrants were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Such shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering of the shares will be filed with the SEC.



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