Aerkomm (OTCQX: AKOM) recently announced that it has sold 588,236 shares of its common stock at a price of $8.50 per share in the first round of its $60 million registered offering. Total gross proceeds of $5,000,006 were raised from the offering before deducting expenses and underwriting commissions. The company intends to use the net proceeds toward general corporate purposes, such as working capital, product development and marketing activities. Additionally, if the offering raises enough capital, the company intends to use the proceeds toward the purchase of land to build its first ground station and data center in the Asia region. “We are very pleased with the demand for our shares and look forward to closing additional rounds in the near term. We have a strong business plan in place that is being fueled with capital to take the company to new heights,” Aerkomm Chairman and CEO Jeffrey Wun stated in the news release.
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About Aerkomm Inc.
Aerkomm Inc. (AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions. For more information, visit the company’s website at www.Aerkomm.com.
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