AmpliTech Group Amends Asset Purchase Agreement, Reducing Price by $1M Due to Delays

AmpliTech Group, Inc. (AMPG) has amended its Asset Purchase Agreement with Titan Crest, LLC, reducing the total purchase price from $8 million to $7 million. The amendment addresses significant delays by Titan in delivering product designs and documentation for AmpliTech's 5G ORAN radio products, which has hindered the company's own development schedule.

Key Details

• Price Reduction: The aggregate purchase price was decreased by $1,000,000, from an original $8,000,000 to a new total of $7,000,000.
• Amended Payment Terms: The remaining $2,000,000 will be paid as $1,000,000 in cash and $1,000,000 in restricted common stock, contingent on the successful transfer and production validation of the 5G ORAN radio design package.
• Reason for Amendment: The changes were prompted by Titan's substantial delinquency in delivering products and documentation, causing delays for AmpliTech.