Mergers & Acquisitions ·
Comtech Telecommunications Corp. entered into a Securities Purchase Agreement to sell its satellite and space…
CMTLComtech Telecommunications Corp
Comtech Telecommunications Corp. entered into a Securities Purchase Agreement to sell its satellite and space communications business to Wavestream Corporation for a base cash price of $157,500,000. The company also amended its senior and subordinated credit agreements to consent to the transaction and suspend testing of certain financial covenants until July 31, 2027. Additionally, Magnetar Capital LLC and White Hat Capital Partners LP exchanged Series B-3 Convertible Preferred Stock for new Series B-4 Convertible Preferred Stock. Comtech Telecommunications Corp. provides satellite and space communications technology and services.