Airgain Announces Pricing of Primary and Secondary Offering of Common Stock

SAN DIEGO, CA--(Marketwired - December 09, 2016) - Airgain, Inc. (NASDAQ: AIRG), a leading provider of embedded antenna technologies used to enable high performance wireless networking, today announced the pricing of its underwritten public offering of common stock, consisting of 1,352,941 shares of common stock to be sold by Airgain and 1,000,000 shares of common stock to be sold by certain of its stockholders, at a public offering price of $17.00 per share. The gross proceeds to Airgain from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $23.0 million. In addition, Airgain has granted the underwriters a 30-day option to purchase up to an additional 332,941 shares of common stock and a selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 20,000 shares of common stock.

The offering is expected to close on December 14, 2016, subject to the satisfaction of customary closing conditions.

Cowen and Company, LLC, William Blair & Company, L.L.C. and Northland Capital Markets are acting as joint book-running managers for the offering. Wunderlich is acting 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 will be made only by means of a prospectus, copies of which, when available, 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.

Forward-Looking Statements

Airgain cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. These forward-looking statements include statements regarding the timing, size and closing of the public offering. The inclusion of forward-looking statements should not be regarded as a representation by Airgain that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to conditions affecting the capital markets, general economic, industry, or political conditions, and the satisfaction of customary closing conditions related to the proposed public offering, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission, including under the heading "Risk Factors" in the registration statement. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.