EXCLUSIVE: ComSovereign Scoops $8.4M Subcontract From US Government Prime Contractor

ComSovereign Holding Corp's COMS Lighter Than Air Systems (LTAS) subsidiary, dba Drone Aviation, has won a multi-unit, $8.4 million subcontract from a U.S. government prime contractor for its Winch Aerostat Small Platform (WASP) and related support services.

COMSovereign is a U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions.

What Happened: Drone Aviation sees the initial unit fulfillment under this subcontract to start in May 2022 based on current production scheduling.

Why It Matters:  "Our Sky Sovereign business unit enters 2022 with significant growing interest in its tethered aerial platforms for both government and commercial end-users," said Dan Hodges, Chairman and CEO of COMSovereign Holding Corp.

The WASP is a highly tactical and mobile aerostat system that can provide video, secure multi-frequency, and multi-wave form wireless communication range extension capability. 

U.S. Army soldier-operated and DHS agent-operated WASP systems have accumulated thousands of flight hours across the U.S., Middle East, and Africa. 

Operating at altitudes of up to 1,500 feet AGL, the WASP system can significantly extend Intelligence, Surveillance, and Reconnaissance (ISR) capabilities and secure communications in remote and austere locations.

COMS Price Action: ComSovereign shares closed lower by 7.2% at $0.57 on Thursday.