Actusnews Wire - Professional broadcaster of corporate and regulated information, authorised by the AMF and the CSSF.

  AERKOMM company press release from 08/12/2020

  08/12/2020 - 07:30

Aerkomm Announces Convertible Bond Offering


FREMONT, Calif., December 8, 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 using Ka-band technology, today announced that on December 3, 2020, the Company closed a private placement offering (the “Offering”) consisting of US$10,000,000 in aggregate principal amount of its Credit Enhanced Zero Coupon Convertible Bond due 2025 (the “Credit Enhanced Bonds”) and US$200,000 in aggregate principal amount of its 7.5% convertible bonds due 2025 (the “Coupon Bonds,” and together with the Credited Enhanced Bonds, the “Bonds”). 

The Company intends to primarily use the proceeds from the Offering for the purposes of: (1) conducting potential strategic investments and acquisitions, (2) building the Company's first ground station and data center in Taiwan, (3) engaging in product development; and (4) supporting its working capital.

The Bonds have been listed and quoted on the Singapore Exchange Securities Trading Limited, or the SGX-ST with effect from 9:00 a.m. Thursday, December 3, 2020 (Singapore time). There is currently no public market for the Bonds. The Bonds (and the Conversion Shares to be issued upon conversion thereof) have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and are exclusively being offered and sold pursuant to an offering memorandum dated November 27, 2020 (the “Offering Memorandum”), outside of the United States in offshore transactions in reliance on Regulation S under the Securities Act.

Unless previously redeemed, converted or repurchased and canceled, the Credit Enhanced Bonds will be redeemed on December 2, 2025 at 105.11% of their principal amount and the Coupon Bonds will be redeemed on December 2, 2025 at 100% of their principal amount plus any accrued and unpaid interest. The Coupon Bonds will bear interest from and including December 2, 2020 at the rate of 7.5% per annum. Interest on the Coupon Bonds is payable semi-annually in arrears on June 1 and December 1 each year, commencing on June 1, 2021.

The Company has the option to redeem the Bonds prior to maturity at their discretion, under certain conditions, and at the discretion of bondholders in case of an Event of Delisting or a Change of Control (as defined in Offering Memorandum).

The URL to the 8-K filed with the SEC is below:

https://www.sec.gov/Archives/edgar/data/1590496/000121390020040929/0001213900-20-040929-index.htm.

About Aerkomm Inc.

Aerkomm Inc. (Euronext Paris: AKOM; OTCQX: 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 periodic filings with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended, as well as in our Registration Statement on Form S-1 filed with the SEC (SEC File No. 333-237942) on April 30, 2020, as amended to date. 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.

Investor Relations Contact:

William Zima

ICR Inc.

William.Zima@icrinc.com

+1 (203) 682-8233

Aerkomm annonce une offre d'obligations convertibles

FREMONT, Calif., 8 décembre 2020 -- Aerkomm Inc. ("Aerkomm" ou “la Compagnie”) (Euronext Paris: AKOM; OTCQX: AKOM), le fournissseur de connectivité et de contenu medias en vol pour l'industrie aeronautique, annonce ce jour que la realization d'un placement privé le 3 décembre 2020 (l' “Offering”) composé de US$10,000,000 de nominal d'obligations convertibles munies d'une garantie bancaire sans coupon et une maturité en 2025 (les “Bonds avec Garantie”) et de US$200,000 de nominal d'obligations convertibles avec un coupon de 7.5% et une maturité en 2025 (les “Bonds avec Coupon” et ensemble avec les Bonds avec Garantie, les “Bonds”). 

La Compagnie entends faire l'usage des fonds levés pour: (1) faire d'eventuels investissements stratégiques et de croissance externe, (2) financer la construction de la station satellite à Taiwan, (3) financement de la R&D et (4) financer le fond de roulement.

Les Bonds ont été inscrits a la cotation sur le marché de Singapore Exchange Securities Trading Limited, or the SGX-ST le jeudi 3 Décembre 2020 à 9:00 a.m. (Heure de Singapore). Les Bonds (ainsi que les actions issues de la convertion eventuelle des Bonds) suivent la directive Securities Act of 1933 en place aux Etats-Unis, (le “Securities Act”) et sont representés par la documentation datée le 27 novembre, 2020 (l' “Offering Memorandum”), en dehors des Etats-Unis exclusivement en accord avec la Regulation S du Securities Act.

A l'exeption des Bonds remboursés, convertis ou rachetés et annulés auparavent, les Bonds avec Garantie seront remboursés le 2 décembre 2025 à 105.11% de leur valeur nominale et les Bonds avec Coupon seront remboursés le 2 décembre 2025 à 100% de leur valeur nominale augmenté des intérêts restant dûs. Le calcul des intérêts courus pour les Bonds avec Coupon commencera le 2 décembre 2020 à un taux de 7.5% par an. Les intérêts seront payés semi-annuellement les 1er juib et 1er décembre de chaque année à commencer par le 1er juin 2021.

La Compagnie a l'option de rembourser les Bonds avant la maturité selon certaines conditions et les investisseurs peuvent demander le remboursement anticipé des Bonds en cas d'absence de cotation ou de changement de controle (comme définis dans l'Offering Memorandom.


This publication embed "Actusnews SECURITY MASTER".
- SECURITY MASTER Key: lGhvYpZnaZjFyWtxk5uba2Rkam6XmWOalmeWxWdwa8ucb3Fjm5iVmJfJZm9nmWZp
- Check this key: https://www.security-master-key.com.



  Original Source: AERKOMM