Nov 16, 2020, 07:30 ET
FREMONT, Calif., Nov. 16, 2020 /PRNewswire/ -- Aerkomm Inc. ("Aerkomm" or "the Company") (Euronext Paris: AKOM; OTCQX: AKOM), a development stage service provider of In-Flight Entertainment and Connectivity solutions for the airline industry using Ka-band technology, today announced the United States Securities and Exchange Commission (the "SEC") has declared the Company's registration statement on Form S-1 effective (File No. 333-233674) as of November 6, 2020.
This S-1 Registration Statement relates to the Company selling maximum of 1,951,219 shares, or €40,000,000, of common stock at a €20.50 offering price per share. The Company plans to use the proceeds from this offering for general corporate purposes, including working capital, product development, marketing activities, expanding its internal organization and other capital expenditures including the building of the Company's first ground station and data center in the Asia region.
The SEC's Notice of Effectiveness may be accessed through the SEC's website at https://www.sec.gov/Archives/edgar/data/1590496/999999999520003093/9999999995-20-003093-index.htm. A copy also may be obtained from the Company. A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Aerkomm Inc.
Aerkomm Inc. (Euronext Paris: AKOM; 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.
More information about Aerkomm is available at www.aerkomm.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our periodic filings with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended, as well as in our Registration Statement on Form S-1 filed with the SEC (SEC File No. 333-237942) on April 30, 2020, as amended to date. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
+1 (203) 682-8233
SOURCE Aerkomm Inc.
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