FREMONT, Calif., May 4, 2020 -- 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, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") to register up to €40,000,000 of shares of its common stock in a proposed best efforts underwritten public offering. The sole underwriter for the proposed offering is Invest Securities SA, who has entered into a sub-placement agent agreement with Yuanta Securities. Although the shares are being registered under the Securities Act of 1933, as amended (the “Securities Act”), no shares will be offered, sold or delivered within the United States or to U.S. persons (as defined in Regulation S under the Securities Act (“Regulation S”)), and no directed selling efforts (as defined in Regulation S) in the United States relating to Aerkomm or the offering of the shares will be made by the underwriter. The shares will only be offered, sold and delivered to non-U.S. persons (as defined in Regulation S) in offshore transactions (as defined in Regulation S) outside the United States. In addition, since the shares are being registered under the Securities Act, the resale limitations imposed by Rule 905 of Regulation S will not apply to the shares.
Aerkomm's common stock is currently quoted for trading on the OTC Markets Group Inc. OTCQX Best Market under the symbol “AKOM.” On April 29, 2020, the last reported sale price of Aerkomm's common stock on the OTCQX was $14.55. Since July 23, 2019, Aerkomm's common stock has also been listed on the Professional Segment of the regulated market of Euronext Paris under the symbol “AKOM.” On April 29, 2020, the last reported sale price of Aerkomm's common stock on the Euronext Paris was €32.00.
The offering will be made only by means of a prospectus. A copy of the prospectus relating to this offering, when available, may be obtained from Invest Securities SA at 73 boulevard Haussman, 75008 Paris, France, or from Yuanta Securities at 13, 14F, No. 225, Sec. 3, Nanjing E. Road, Taipei 104, Taiwan.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any 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 any such state or jurisdiction.
About Aerkomm Inc.
Aerkomm Inc. (OTCQX: AKOM; Euronext Paris: 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 Registration Statement on Form S-1 filed with the Securities and Exchange Commission (SEC File No. 333-237942) on April 30, 2020, and the prospectus contained therein. 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.
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