Mergers & Acquisitions ·
AmpliTech Group entered into Amendment No. 2 to its Asset Purchase Agreement with Titan Crest, LLC due to Titan's…
AMPGWAmpliTech Group, Inc.
AmpliTech Group entered into Amendment No. 2 to its Asset Purchase Agreement with Titan Crest, LLC due to Titan's substantial delinquency in delivering products and documentation for 5G ORAN radio technology. The amendment reduced the aggregate purchase price from $8,000,000 to $7,000,000. The remaining $2,000,000 balance will be paid upon transfer of the design package as $1,000,000 in cash and $1,000,000 in restricted common stock valued at the 30-day volume-weighted average price. Titan was released from most covenants while its affiliate assumed obligations. AmpliTech Group operates in the telecommunications equipment industry, specifically developing radio access network technology.