MELVILLE, N.Y.--(BUSINESS WIRE)--June 16, 2016-– Comtech Telecommunications Corp.  (NASDAQ:CMTL) today announced the pricing of its public offering of 7,145,000 shares of its common stock at a public offering price of $14.00 per share for gross proceeds of approximately $100 million. Comtech expects to receive net proceeds, after deducting the underwriting discount, of approximately $95 million from the offering. All of the shares in the offering are being sold by Comtech. Comtech has granted the underwriters a 30-day option to purchase up to an additional 1,071,750 shares of common stock sold in the offering. The offering is scheduled to close on June 22, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds of the common stock offering to repay borrowings under its Secured Credit Facility and for working capital and general corporate purposes.

The offering is being made through an underwriting group led by Citigroup and Jefferies LLC who are acting as joint book-running managers of the offering. BMO Capital Markets Corp. and Raymond James & Associates, Inc. are acting as additional book-running managers for the offering. Northland Securities, Inc., Ladenburg Thalmann & Co. Inc., Noble International Investments, Inc. and Santander Investment Securities Inc. are acting as co-managers.

About Comtech

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company sells products to a diverse customer base in the global commercial and government communications markets.