Airgain Announces Closing of Public Offering of Common Stock and Full Exercise of the Underwriters' Option to Purchase Additional Shares

SAN DIEGO, CA--(Marketwired - December 14, 2016) - Airgain, Inc. (NASDAQ: AIRG), a leading provider of embedded antenna technologies used to enable high performance wireless networking, today announced the closing of its underwritten public offering of common stock, consisting of 1,685,882 shares of common stock to be sold by Airgain and 1,020,000 shares of common stock to be sold by certain of its stockholders, at a public offering price of $17.00 per share, which included the full exercise of the underwriters' option to purchase 332,941 additional shares sold by Airgain and 20,000 additional shares sold by a selling stockholder. The gross proceeds to Airgain from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $28.7 million.

Cowen and Company, LLC, William Blair & Company, L.L.C. and Northland Capital Markets acted as joint book-running managers for the offering. Wunderlich acted as co-manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 8, 2016. The offering of these securities was made only by means of a prospectus, copies of which may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department or by calling 631-274-2806; from William Blair & Company, L.L.C., Attn: Prospectus Department, 222 West Adams Street, Chicago, Illinois 60606 or by calling (800) 621-0867 or by e-mail at prospectus@williamblair.com; or from Northland Capital Markets, 45 South Seventh Street, Suite 2000, Minneapolis, Minnesota 55402, Attention: Heidi Fletcher, by calling toll free (800) 851-2920, or by e-mail at hfletcher@northlandcapitalmarkets.com. Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member of FINRA/SIPC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Airgain, Inc.

Airgain is a leading provider of embedded antenna technologies used to enable high performance wireless networking across a broad range of home, enterprise, and industrial devices. Our innovative antenna systems open up exciting new possibilities in wireless services requiring high speed throughput, broad coverage footprint, and carrier grade quality. Our antennas are found in devices deployed in carrier, enterprise, and residential wireless networks and systems, including set-top boxes, access points, routers, gateways, media adapters, digital televisions, and Internet of Things (IoT) devices. Airgain partners with and supplies the largest blue chip brands in the world, including original equipment and design manufacturers, chipset makers, and global operators. Airgain is headquartered in San Diego, California, and maintains design and test centers in San Diego, Cambridge, United Kingdom, Taipei, Taiwan, and Suzhou, China.

Airgain and the Airgain logo are registered trademarks of Airgain, Inc.