Comtech Telecommunications Completes Issuance Convertible Preferred Stock

Paul, Weiss advised Comtech Telecommunications Corp. in connection with the issuance of $160 million liquidation amount of Series B Preferred Stock. The issuance included approximately $115 million liquidation amount issued in exchange for the Company’s Series A-1 Preferred Stock and a $45 million additional strategic investment by current preferred shareholders White Hat Capital Partners LP and funds affiliated with alternative investment manager Magnetar. Comtech is a leading global provider of terrestrial and wireless network solutions, satellite and space communications technologies, and cloud native capabilities to commercial and government customers.

The Paul, Weiss team is led by Ray Russo and includes corporate partner David Tarr.