GREENSBORO – Guerrilla RF, Inc. has raised more than $7 million in a private placement offering and completed a reverse merger transaction that resulted in the company becoming a publicly-traded company, the Greensboro-headquartered firm announced last week.
According to the company, it completed the reverse merger with Laffin Acquisition Corp. to become a subsidiary company. Following the merger, Laffin changed its name to “Guerrilla RF, Inc.” and will continue the business of Guerrilla RF, as all current members of the company’s board of directors will remain directors following the merger, the company said in a statement.
The company manufactures what it calls “high-performance monolithic microwave integrated circuits (MMICs)” and was founded in 2013.
The firm targets wireless infrastructure applications including automotive and 5G, and was named among the fastest-growing 500 companies by Inc.com in each of 2020 and 2021.
“Guerrilla RF’s strategy is centered on developing and selling disruptive, leading edge wireless semiconductor products. We recognize the need for an agile, focused approach to addressing the performance requirements of the wireless infrastructure market,” explained Ryan Pratt, founder and CEO, in a statement. “Our past success is a direct reflection of this strategy, and this additional capital will allow us to accelerate our development plans and enable us to aggressively expand within strategically targeted wireless applications.”
The company’s product portfolio includes more than 95 high-performance radio frequency (RF) and microwave semiconductor devices, it stated. That includes “ultra-low noise amplifiers, gain blocks, driver amplifiers, mixers, RF switches, and linear PAs (power amplifiers),” according to the company’s statement. It also includes “the critical building blocks for mission-critical, performance-driven wireless applications, including 5G Wireless Infrastructure, Cellular Repeaters/Boosters, and Automotive Telematics,” the statement reads.
The company stated that its sales increased by 990% during the prior three years, which resulted in a ranking of 489 on the Inc. 5000 list in 2021. The company sales totaled $8.09 million in 2020, according to the statement issued by the company.
According to reporting by the Triad Business Journal, the company is also expanding into a new building in the Triad, investing $5.515 million into the project, and create 50 new jobs.