Aerkomm (OTCQX: AKOM) recently announced that its Form S-1 registration statement has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) for the proposed underwritten public offering of between $5 million and $69 million (including an over-subscription allotment of $9 million) of its common stock. Boustead Securities, LLC is acting as the sole underwriter for the offering. The company intends to use the net proceeds of the offering toward general corporate purposes, such as working capital, product development, marketing activities and other capital expenditures. If the offering raises an adequate amount of capital, the company intends to also use the proceeds toward the purchase of land for the building of its first ground station and data center in the Asia region. “We are very excited being effective on the S-1. We expect to complete the offering with great success,” Aerkomm Chairman and CEO Jeffrey Wun stated in the news release.
To view the full press release, visit http://nnw.fm/A2yV7
About Aerkomm Inc.
Aerkomm Inc. (OTCQX: 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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