- ComSovereign Holding Corp (NASDAQ:COMS) inked an agreement to raise $10 million from The Lind Partners managed Lind Global Asset Management IV, LLC.
- The proceeds will be utilized to further invest in increased production across business units, fulfill additional customer purchase orders, advance the ongoing build-out of its Tucson facility, supporting its drone and in-house radio manufacturing activities, and advancing its strategic acquisition efforts including the Innovation Digital acquisition.
- The debt involves an $11 million 10% convertible note with a 2-year maturity, a fixed conversion price of $4.50 per share, and warrants to purchase 1.82 million shares at an exercise price of $4.50 per share.
- ComSovereign will have to make monthly principal and interest payments at 6% p.a. six months after closing.
- Price action: COMS shares traded higher by 0.43% at $2.31 on the last check Friday.
JP Morgan Maintains Overweight on FedEx, Lowers Price Target to $282
JP Morgan analyst Brian Ossenbeck maintains FedEx (NYSE:FDX) with a Overweight and lowers the price target from $297 to $282.
