Guerrilla RF closes $22M private placement of convertible preferred + warrants; board adds two directors

Guerrilla RF, Inc.

• Closed $22.0M private placement with North Run Capital affiliate; net proceeds ~$21.6M after expenses.
• Issued 22,000 Series A Convertible Preferred shares ($1,000 stated value) convertible into 7,213,115 common shares at $3.05, plus warrants for 2,885,246 shares at $3.05.
• Proceeds to strengthen balance sheet, support growth, and fund potential uplist to national exchange.
• Board increased from 8 to 10; Thomas B. Ellis and Todd B. Hammer appointed as directors, with nomination rights for Buyer as long as it holds >=20% of conversion shares.
• Buyer granted pro rata participation rights in future equity financings and certain veto rights over senior debt and share issuance for as long as it holds >=20% threshold.