Guerrilla RF, Inc. announced that it has received $0.26 million in funding
July 12, 2023
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Guerrilla RF, Inc. entered into a note purchase agreement with certain accredited investors and issued unsecured convertible promissory notes in the aggregate proceeds of $260,000 on July 12, 2023. The transaction also included participation from individual investors, Messrs. Ryan Pratt for $80,000 and William J. Pratt for $50,000. The convertible notes accrue interest at a simple rate of 8.0% per annum. The convertible notes will automatically convert into conversion shares at a conversion price that is the lowest per share purchase price of equity securities issued in the Next Equity Financing. The convertible notes will mature and become payable upon demand on December 31, 2024.
The company has received $790,000 pursuant to Regulation D and included participation from 7 investors.
Guerrilla RF, Inc. is a fabless semiconductor company. It develops and manufactures radio frequency (RF) and microwave semiconductors for wireless original equipment manufacturers in multiple market segments, including network infrastructure for 5G/4G macro and small cell base stations, SATCOM, cellular repeaters/DAS, automotive telematics, military communications, navigation, and high-fidelity wireless audio. It is developing monolithic microwave integrated circuit products for wireless connectivity. It possesses in-house design, applications, sales, and customer support functions as a fabless semiconductor company. Its business is diversified across various markets: Wireless Infrastructure, Automotive, and Catalog Markets. Its solutions for SatCom and massive multiple-input and multiple-output systems include low noise amplifie, linear driver amplifiers, digital step attenuators, and discrete power amplifier. It supplies various standard RF catalog components to several markets.