Guerrilla RF, Inc., a leading manufacturer of high-performance MMICs, has raised an additional $4.4 million in subsequent closings of its private placement offering.
Founded in 2013, Guerrilla RF is a leading supplier of MMICs which target wireless infrastructure applications, including 5G and automotive. The Company has a well-established revenue stream with 2020 sales totaling $8.09M. Despite the disruption caused by COVID-19, Guerrilla RF has continued to thrive, with sales increasing by 990% over the past three years.
“We are encouraged by the enthusiasm investors are showing in our team and potential,” noted Ryan Pratt, founder and CEO. “This additional capital will allow us to further accelerate our growth and expand our product offerings.”
Guerrilla RF is currently expanding its research and development operations to a new 50,000 square foot facility in Greensboro, North Carolina. The new location will provide the Company with room to expand operations and substantially increase its headcount over the next two years.
Guerrilla RF has an extensive portfolio of over 95 high-performance RF and microwave semiconductor devices. The existing product line includes ultra-low noise amplifiers, gain blocks, driver amplifiers, mixers, RF switches, and linear PAs (power amplifiers) – the critical building blocks for mission-critical, performance-driven wireless applications, including 5G Wireless Infrastructure, Cellular Repeaters/Boosters, and Automotive Telematics.
As previously announced, Guerrilla RF recently completed a reverse merger and the initial closing of its private placement offering in which it raised over $7 million in gross proceeds. The additional closings bring the aggregate gross proceeds to over $11.5 million. The Company plans to pursue the listing of its common stock on the OTC Markets QB tier.