---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-24-000204"
form_type: "8-K"
ticker: "CMTL"
cik: "0000023197"
company_name: "COMTECH TELECOMMUNICATIONS CORP /DE/"
filed_at: "2024-01-23T23:59:59+00:00"
generated_at: "2026-06-06T20:15:28.176013+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Comtech issues $45M Series B convertible preferred, exchanges all Series A-1

## Summary
- Issued 45,000 shares Series B Convertible Preferred at $1,000 each for $45M; 9% PIK or 7.75% cash dividend.
- Exchanged 100,000 Series A-1 shares for 115,721 Series B shares; no Series A-1 remains outstanding.
- Conversion price $7.99 per common share; mandatory conversion available after July 22, 2027.
- Investors get warrant to buy common if repurchased; nominee director right if $50M+ liquidation preference held.
- Magnetar and White Hat Capital are the investors; standstill and voting restrictions apply.

## SEC filing metadata
- accession: 0000950142-24-000204
- form_type: 8-K
- ticker: CMTL
- cik: 0000023197
- company_name: COMTECH TELECOMMUNICATIONS CORP /DE/
- filed_at: 2024-01-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/23197/000095014224000204/0000950142-24-000204-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/23197/000095014224000204/eh240441119_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-24-000204
- JSON: https://secwatch.observer/filing/0000950142-24-000204.json
- Plain text: https://secwatch.observer/filing/0000950142-24-000204.txt

## Key facts
- Governance Changes
  COMTECH TELECOMMUNICATIONS CORP /DE/: Filed Certificate of Designations to establish terms of Series B Convertible Preferred Stock (effective 2024-01-22).
  - Change: charter amendment
  - Effective: 2024-01-22
  source text: On January 22, 2024, the Company filed the Certificate of Designations with the Secretary of State of the State of Delaware to establish the terms, rights, obligations and preferences of the Series B Convertible Preferred Stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/23197/000095014224000204/0000950142-24-000204-index.htm
- Material Agreements
  COMTECH TELECOMMUNICATIONS CORP /DE/ entered into Subscription and Exchange Agreement with certain affiliates and related funds of Magnetar and White Hat Capital Partners LP valued at $45,000,000 (effective 2024-01-22).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain affiliates and related funds of Magnetar and White Hat Capital Partners LP
  - Value: $45,000,000
  - Effective: 2024-01-22
  source text: On January 22, 2024, Comtech Telecommunications Corp., a Delaware corporation (the “Company”), entered into a Subscription and Exchange Agreement (the “Subscription and Exchange Agreement”) with certain affiliates and related funds of Magnetar and White Hat Capital Partners LP (each, an “Investor” and collectively, the “Investors”), relating to (i) the issuance and sale of 45,000 shares of a new series of the Company’s Series B Convertible Preferred Stock, par value $0.10 per share, titled the “Series B Convertible Preferred Stock” (the “Series B Convertible Preferred Stock”), for an aggregate purchase price of $45,000,000, or $1,000 per share (the “Primary Issuance”), (ii) the exchange of 100,000 shares of the Company’s Series A-1 Convertible Preferred Stock, par value $0.10 per share (the “Series A-1 Convertible Preferred Stock), for 115,721.22 shares of Series B Convertible Preferred Stock (the “Exchange”) and (iii) the issuance to the Investors of 5,400 shares of Series B Convertib
  evidence_url: https://www.sec.gov/Archives/edgar/data/23197/000095014224000204/0000950142-24-000204-index.htm

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