COMSovereign Holding Corporation (COMS) has announced they will be selling a perpetual preferred issue.
The coupon will 9.25% and the permanent ticker on NASDAQ will be COMSP.
The issue will pay monthly dividends which will be cumulative and qualified (assuming they have income–if not they will be return of capital).
I know nothing at all about this company so I have snipped the company description out of the prospectus.
We are a provider of technologically-advanced telecom solutions to network operators, mobile device carriers, governmental units and other enterprises worldwide. We have assembled a portfolio of communications, power and portable infrastructure technologies, capabilities and products that enable the upgrading of latent 3G networks to 4G and 4G-LTE networks and will facilitate the rapid roll out of the 5G and “next-Generation” (“nG”) networks of the future. We focus on novel capabilities, including signal modulations, antennae, software, hardware and firmware technologies that enable increasingly efficient data transmission across the electromagnetic spectrum. Our product solutions are complemented by a broad array of services, including technical support, systems design and integration, and sophisticated research and development programs. While we compete globally on the basis of our innovative technology, the breadth of our product offerings, our high-quality cost-effective customer solutions, and the scale of our global customer base and distribution, our primary focus is on the North American telecom infrastructure and service market. We believe we are in a unique position to rapidly increase our near-term domestic sales as we are among the few U.S. based providers of telecommunications equipment and services.
Dufus mentioned this new issue in the Common Stock Chat Area.