LCC International Raises $17 million in Private Placement of 5.1 million Common Shares
For Immediate Release
April 19, 2007
LCC Contact:
Kenny Young, Chief Marketing Officer
kenny_young@lcc.com
+1.703.873.2075
LCC International Raises $17 million in Private Placement of 5.1 million Common Shares
MCLEAN, VA -- April 19, 2007 -- LCC International, Inc. (NASDAQ: LCCI), a leader in advanced wireless services and solutions, today announced it has raised $17 million through the sale of 5,100,000 newly issued class A common shares of LCC International at a price of $3.35 per share in a private placement. As part of the transaction LCC is required to file a registration statement covering the common stock within 45 days of the closing.
Punk, Ziegel & Company acted as exclusive financial advisor to LCC International and B. Riley & Company and Punk, Ziegel & Company acted as placement agents. The company will use the proceeds from the offering to invest in initiatives to further the Company’s growth strategy, which includes investing in higher growth elements of its core business, focusing on higher margin revenues, developing tools-based services, and includes pursuing potential acquisition opportunities.
"The wireless industry is on the threshold of tremendous change and it is important we position LCC to maximize our share of this rising tide,” said LCC President and Chief Executive Officer Dean Douglas. “Wireless service providers are driving new data, voice and mobile content adoption based on emerging technologies like HSDPA, EV-DO and WiMAX. This placement will enable LCC to capitalize on the increasing demands of our customers as we continue to expand our diverse services offering and increase the value we provide our customers around the world.”
About LCC International, Inc.
LCC International is the recognized leader in providing wireless voice and data turn-key services to the telecommunications industry. The Company's service offering includes network services, business consulting, tools-based solutions; and training through its world-renowned Wireless Institute. The Company has worked with all major access technologies (including UMTS, EV-DO, HSDPA and WiMAX) and has participated in the success of some of the most sophisticated wireless systems in the world. LCC is unique in its ability to provide comprehensive turnkey services to wireless operators around the world. The Company brings local knowledge and global capabilities to its customers, offering innovative solutions, insight into cutting-edge developments and delivering solutions that increase business efficiencies. News and additional information are available at www.lcc.com
Cautionary Note regarding forward-looking statements under the Private Securities Litigation Reform Act of 1995:
Information in this release regarding LCC’s expectations, beliefs, and intentions are forward-looking statements that involve risks and uncertainties. These statements include those relating to the Company’s private placement of 5.1 million shares and the registration of its common shares as well as pursuing potential acquisition opportunities. All forward-looking statements included in this release are based upon information available to LCC as of the date of this release, which may change, and LCC assumes no obligation to update any such forward-looking statement. These statements are not guarantees. Factors that could cause or contribute to differences from such expectations include, but are not limited to risks associated with international operations, challenges and costs arising from integration of new operations and other factors that may affect our business are discussed in LCC’s filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our quarterly reports on Form 10-Q.
