The LGL Group, Inc. Announces Exercise Results of Warrants Distributed in November 2020

Core Viewpoint - LGL Group has successfully completed the exercise of warrants, resulting in the issuance of 1,051,644 shares of common stock and generating approximately $5.0 million in gross proceeds for the company [7]. Group 1: Warrant Exercise and Financial Impact - The warrants, initially distributed on November 16, 2020, expired on December 31, 2025, with 100% of the shares available to be issued through a combination of Basic Warrant Exercise Rights and Over-Subscription Privilege [1]. - The final distribution of shares is subject to review by the company, transfer agent, and Depository Trust Company for the allocation of Under-Subscribed Shares [1]. - Following the warrant exercise, the total shares outstanding will increase from 5,406,744 to 6,389,412 [7]. Group 2: Leadership and Strategic Outlook - The CEO of LGL Group expressed confidence in the renewed shareholder base following the warrant exercise, indicating a positive outlook for the company [2]. - The company is positioned for growth in the national defense sector, with a focus on radio frequency designs and a Merchant Investment template aimed at benefiting shareholders [3]. Group 3: Company Background - LGL Group is a holding company involved in services, merchant investment, and manufacturing, with a history dating back to 1928 [4][5]. - The company operates Precise Time and Frequency, LLC, which produces industrial electronic instruments and commercial products [4].