---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-002964"
form_type: "8-K"
ticker: "CMTL"
cik: "0000023197"
company_name: "COMTECH TELECOMMUNICATIONS CORP /DE/"
filed_at: "2023-12-14T23:59:59+00:00"
generated_at: "2026-06-07T13:08:26.860380+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Comtech exchanges Series A Preferred for new Series A-1 with amended terms, up to $50M common issuance allowed

## Summary
- Exchanged all 100,000 Series A Preferred shares for 100,000 Series A-1 Preferred shares at $1,134.20 liquidation preference per share.
- Company may issue up to $50M of common stock without holder consent until October 31, 2024.
- On change of control, holders may require repurchase at 1.5x liquidation preference (was 1.0x).
- Conversion price remains $23.97 per share; Series A-1 has substantially same powers and preferences as Series A.
- Transaction exempt from registration; related registration rights and voting agreements apply to Series A-1.

## SEC filing metadata
- accession: 0000950142-23-002964
- form_type: 8-K
- ticker: CMTL
- cik: 0000023197
- company_name: COMTECH TELECOMMUNICATIONS CORP /DE/
- filed_at: 2023-12-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/23197/000095014223002964/0000950142-23-002964-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/23197/000095014223002964/eh230430442_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-002964
- JSON: https://secwatch.observer/filing/0000950142-23-002964.json
- Plain text: https://secwatch.observer/filing/0000950142-23-002964.txt

## Key facts
- Material Agreements
  COMTECH TELECOMMUNICATIONS CORP /DE/ entered into Exchange Agreement with certain affiliates and related funds of Magnetar Capital LLC and White Hat Capital Partners LP valued at $1,134.20 per share (effective 2023-12-13).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain affiliates and related funds of Magnetar Capital LLC and White Hat Capital Partners LP
  - Value: $1,134.20 per share
  - Effective: 2023-12-13
  source text: On December 13, 2023, Comtech Telecommunications Corp. (the “ Company ”) and certain affiliates and related funds of Magnetar Capital LLC and White Hat Capital Partners LP (collectively, the “ Investors ”) agreed to change the terms of the Company’s Series A Convertible Preferred Stock, par value $0.10 per share (the “ Series A Convertible Preferred Stock ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/23197/000095014223002964/0000950142-23-002964-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.