GREENSBORO – Guerrilla RF, Inc., coming off a recent close of $7 million in a reverse merger transaction that resulted in the company becoming a publicly traded firm, has raised an additional $4.4 million in subsequent closings of the company’s private placement offering.
“We are excited and encouraged by the enthusiasm investors are showing in our team and potential,” noted Ryan Pratt, founder and CEO of Guerrilla RF in a statement. “This additional capital will allow us to further accelerate our growth and expand our product offerings.”
That growth will occur in a new location for the company, expanding to a new 50,000 square foot facility in Greensboro. The company anticipates adding employees and expanding operations, according to its statement.
The company is a manufacturer and supplier of high performance monolithic microwave integrated circuits, MMICs, with about 95 different products targeting wireless infrastructure applications, such as 5G connectivity and the automotive industry.
Greensboro’s Guerrilla RF raises $7M, completes ‘reverse merger’ to take company public
The company’s sales revenue during 2020 was $8.09 million, it said in a statement. The company was named to the Inc. 5000 list earlier this year, ranking 489th for 2021 following a ranking of 421st in 2020.
The additional closings of funding bring the aggregate gross proceeds between all closed transactions involved in the private placement offering to more than $11.5 million, the company statement noted. Guerrilla RF will list the common stock on the OTC Markets QB tier, it said.
“The securities issued in the merger and sold in the private placement have not been registered under the Securities Act of 1933 (the “Act”) and may not be resold absent registration under, or exemption from registration under, such Act,” the statement reads.
