Aerkomm (OTCQX: AKOM) recently announced that it has sold a total of 3,709,873 shares of its common stock at $8.50 per share, resulting in $31,533,920.50 of gross proceeds before expenses and underwriting commissions. The company previously announced an offering of between $5 million and $69 million of its common stock, which includes an over-subscription allotment of $9,000,000. The company is currently accepting subscriptions in its offering at $8.50 per share up to a maximum of $69 million. The offering will remain open until August 5, 2018 and, as described in its prospectus, may be extended to September 4, 2018. Aerkomm intends to use the net proceeds of the offering for general corporate purposes, such as working capital, product development, marketing activities, expending its internal organization and other capital expenditures. If the company raises an adequate amount of capital, it also intends to purchase land to build its first ground station and data center in the Asia region. “We are pleased to see continued demand for our shares and look forward to closing additional rounds in the near term and completing our $69,000,000 raise,” 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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