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BRIEF-Communications Systems Reports Updated $32.0 Mln Equity Financing To Close Concurrently With CSI–Pineapple Merger

reuters ·  Sep 15, 2021 08:07

Sept 15 (Reuters) - Communications Systems Inc JCS.O :

* COMMUNICATIONS SYSTEMS, INC. ANNOUNCES UPDATED $32.0 MILLION EQUITY FINANCING TO CLOSE CONCURRENTLY WITH CSI–PINEAPPLE MERGER

* COMMUNICATIONS SYSTEMS - ENTERED INTO AMENDED AND RESTATED SECURITIES PURCHASE AGREEMENT WITH INSTITUTIONAL INVESTORS TO MAKE $32 MILLION PRIVATE PLACEMENT INVESTMENT

* COMMUNICATIONS SYSTEMS INC - PROCEEDS OF INVESTMENT WILL BE USED PRIMARILY TO FUND PINEAPPLE STRATEGIC INITIATIVES FOLLOWING CONSUMMATION OF MERGER

* COMMUNICATIONS SYSTEMS INC - AMENDED AND RESTATED SECURITIES PURCHASE AGREEMENT REPLACES A $25.0 MILLION ORIGINAL SECURITIES PURCHASE AGREEMENT

Source text for Eikon: ID:nBw1lPzgfa Further company coverage: JCS.O

((Reuters.Briefs@thomsonreuters.com;))

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