COMSovereign Issues Update Regarding Adjournment of Annual … – PR Newswire

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Jan 18, 2023, 16:30 ET
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– Company Sets February 8, 2023 as New Annual Meeting Date –
TUCSON, Ariz., Jan. 18, 2023 /PRNewswire/ — COMSovereign Holding Corp. (NASDAQ: COMS) (“COMSovereign” or the “Company”), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions today issued the following update regarding its 2022 Annual Meeting of Shareholders:
To Our COMSovereign Stockholders:
Recently you received proxy materials related to the upcoming Annual Meeting of Stockholders of COMSovereign Holding Corp. The Company has adjourned the Annual Meeting to February 8, 2023 at 3:30 p.m. Eastern Time in order to solicit additional votes necessary to achieve the required quorum. The full proxy statement is available for you to review here: Definitive Proxy Statement.
We understand you may have questions or concerns about your investment in COMSovereign. Below, you will find a recent CEO Update Letter detailing the Company’s progress and focus on several important issues including: 1) Improving the Company’s ability to drive revenue, 2) Completing and filing its quarterly financial reports with the Securities and Exchange Commission (“SEC”) and address its public listing status on Nasdaq, and 3) securing interim capital which can support its operations. We urge you to read the attached letter carefully and then vote your shares.
If you have not yet voted, it is very important that we receive your vote
via Internet, telephone or mail as soon as possible.
The record date for the Annual Meeting remains November 21, 2022. Stockholders that held stock on November 21, 2022 are eligible to vote at this Annual meeting. Stockholders who previously submitted their proxy or otherwise voted and who do not want to change their vote do not need to take any further action. No changes have been made in the proposals to be voted on by Stockholders at the Annual Meeting. For assistance with voting your shares, please contact Advantage Proxy, Inc. toll-free at (877) 870-8565 or by e-mail at [email protected].
COMSovereign asks that all Stockholders vote their proxy, no matter how many shares they own. The Company strongly encourages all of its Stockholders to read its Definitive Proxy Statement as filed with the Securities and Exchange Commission (the “SEC”) on December 7, 2022, and other proxy materials relating to the Annual Meeting, which are available free of charge on the SEC’s website at www.sec.gov.
To ensure your vote is counted before the February 8, 2023 meeting, we strongly urge you to join your fellow Stockholders and vote FOR all proposals on the agenda. No matter how many or how few shares you own, your vote is vital to our success.
Again, if you have any questions, or need any assistance in voting your shares, please contact Karen Smith at Advantage Proxy by calling (877) 870-8565 or by email at [email protected].
Thank you for your continued support.
CEO Update Letter Issued on January 10, 2023:
COMSovereign Issues New Year CEO Update Letter
To Our COMSovereign Stakeholders:
As we enter the New Year, I wanted to write to you regarding the progress our team has made against a few of the critical path items I outlined in my last CEO update and touch upon some of the important issues for our shareholders.
Since I last wrote to you, I have committed to become COMSovereign’s CEO and President. My decision was based upon several factors, foremost amongst them being the quality of the team, the strength of the Company’s technology, and the tremendous opportunities I see ahead. As I also stated, there are challenges we face as we address the organizational and financial issues that have limited the Company’s ability to capitalize on both its existing book of business and the exciting future of 5G and wireless connectivity. It is against these challenges that we have made notable progress, highlighted by:
That brings me to how we are approaching the start of the New Year and things I believe are critical to our short- and longer-term ability to execute against our plans.
Before I close this letter, I would like to again remind our shareholders to vote at the Annual Meeting of Stockholders to be held on January 18, 2023. Included in the voting, we request that our shareholders vote for the reverse split which is required to maintain our Nasdaq listing and for the replenishment of the Long-Term Incentive Plan (“LTIP”). These are necessary elements in our go-forward plan for COMSovereign. Please see our Definitive Proxy Statement for more information.
Finally, I wish to recognize the efforts and dedication of our employees. We have an incredibly smart and talented team that have remained focused on developing new technology and serving our customers and partners every day. Their efforts would not be possible if it were not for their deep knowledge of our technologies and the markets we are in, and importantly, the markets we intend to enter. We continue to benefit from their daily contributions and connections as they tell our exciting story. As a result, I believe that our customers and partners are beginning to recognize the vision we have for COMSovereign and are encouraged by the progress we are making in our transition and efforts to build a roadmap based on our legacy of innovation. As a team, we are focused on our future and are committed to the execution against our plan.
David Knight
Chief Executive Officer and President
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) has assembled a portfolio of communications technology companies that enhance connectivity across the entire data transmission spectrum. Through strategic acquisitions and organic research and development efforts, COMSovereign has become a U.S.-based communications provider able to provide 4G LTE Advanced and 5G telecom solutions to network operators and enterprises. For more information about COMSovereign, please visit www.COMSovereign.com.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “believe,” “expects,” “may,” “looks to,” “will,” “should,” “plan,” “intend,” “on condition,” “target,” “see,” “potential,” “estimates,” “preliminary,” or “anticipates” or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to the ability to develop and deliver advanced voice and data communications systems, address supply chain challenges including securing adequate inventory of necessary components, demand for the Company’s products, the ability of the Company to regain compliance with Nasdaq listing requirements, its ability to file its financial reports in a timely manner, and secure additional funding. Further information relating to factors that may impact the Company’s results and forward-looking statements are disclosed in the Company’s filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Steve Gersten, Director of Investor Relations
COMSovereign Holding Corp.
[email protected] 
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
[email protected] 
SOURCE COMSovereign Holding Corp.
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