Comtech secures $45M convertible preferred investment from White Hat, Magnetar; exchanges existing Series A-1

COMTECH TELECOMMUNICATIONS CORP /DE/

White Hat and Magnetar purchase $45M of new Series B Convertible Preferred; all outstanding Series A-1 exchanged for Series B.
Conversion price $7.99/share; dividend 9.00% PIK or 7.75% cash at Comtech's election; optional redemption Oct 31, 2028.
Proceeds to support working capital, growth initiatives, and repayment of indebtedness as part of credit facility refinancing.
Mark Quinlan (White Hat) remains on Board; investment signals continued long-term shareholder support.

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