HAUPPAUGE, N.Y., April 16, 2024 (GLOBE NEWSWIRE) — AmpliTech Group, Inc (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks, including the design of complete 5G/6G systems, and a global distributor of packages and lids for integrated circuit assembly, today announced it has filed with SEC a shelf registration statement on Form S-3 replacing the previous shelf registration which just expired. Once declared effective by the SEC, and If AMPG decides to raise capital in a future offering using the shelf registration statement, AMPG will describe the specific details of that future offering in a prospectus supplement that is filed with the SEC. However, AMPG is not selling any securities from the shelf registration statement at this time. The registration statement is meant to ensure continued financial flexibility without diluting shareholder value as the company affirms that it does not anticipate the need to dilute shareholder equity at current price levels. The shelf registration comes as a strategic move to maintain agility in capital markets and bolster the company’s ability to respond swiftly to potential future financing needs.
Shelf registration is a common practice among publicly traded companies, allowing them to register securities for future sale over a specified period. By re-filing for its shelf registration, AMPG affirms its commitment to responsible financial management and proactive planning for future growth opportunities.
“Processing this shelf registration is a proactive step in ensuring that we have the flexibility to access capital markets efficiently when opportunities arise,” said Fawad Maqbool, CEO of AmpliTech group. “We remain committed to maximizing shareholder value and believe that our current financial standing allows us to pursue growth initiatives without resorting to dilutive measures in the near term horizon.”
AMPG continues to focus on delivering value to its shareholders through strategic investments, operational excellence, and innovation. The company’s strong performance and prudent financial management have positioned it for sustained growth and resilience in the ever-evolving market landscape.
The registration statement on Form S-3 has been filed with the SEC but is not yet effective. These securities may not be sold nor may offers to buy be accepted under the Form S-3 registration statement prior to the time the Form S-3 registration statement becomes effective. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy the securities that are proposed to be registered on the Form S-3, nor shall there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. Any offer of securities will occur solely by means of the prospectus included in the registration statement and one or more prospectus supplements that would be issued at the time of the offering.
About AmpliTech Group
AmpliTech Group, Inc. designs, develops, manufactures, and distributes state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. In December 2021, AmpliTech completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. a global specialty distributor of semiconductor components based in San Jose, CA. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of our focused team’s unique skills, experience and dedication, which enables us to deliver superior solutions, faster time to market, competitive pricing, excellent customer satisfaction and repeat business. For more information, visit: www.amplitechgroup.com
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s ability to execute its business plan as anticipated; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy and (iv) plans and expectations with respect to the registration statement on Form S-3 and any potential future offering or capital raises. The words “may” “would” “will” “expect” “estimate” “anticipate” “believe” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising these forward-looking statements, except as required by applicable law.
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