Orlando, Florida--(Newsfile Corp. - January 7, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL Group" or the "Company") today announced the results of the exercise of warrants to purchase shares of LGL Group common stock, par value $0.01 (the "Common Stock"), initially distributed on November 16, 2020 (the "Warrants"). The Warrants expired after 5:00 p.m. on Wednesday December 31, 2025 with 100% of the shares available to be issued from the Warrants to be issued through a combination of the Basic Warrant Exercise Rights and the Over-Subscription Privilege. The final distribution is subject to the Company, transfer agent, and Depository Trust Company review of the allocation of Under-Subscribed Shares through the Over-Subscription Privilege and final adjustments for reconciliation of Warrant exercises and expected next week.
"I am delighted to join LGL Group at this time with the confidence of a renewed shareholder base post Warrant exercise," said Jason Lamb, LGL Group Chief Executive Officer.
"We would like to thank our shareholders for their participation in the Warrants," said Marc Gabelli, Executive Chairman of the Board of Directors.
"This is an unprecedented period of growth in national defense, with small, entrepreneurial new entrants positioned to take share and redefine the historical market. Our strength in radio frequency designs sets the foundation for opportunities to come," continued Mr. Lamb. "Furthermore, our Merchant Investment template should prove fruitful for shareholders."
Highlights:
- 1,051,644 shares of Common Stock are expected to be issued
- Approximately $5.0 million in gross proceeds generated for LGL Group
- Shares outstanding will increase from 5,406,744 shares to 6,389,412 shares
- Warrant dividend program has concluded and warrants are no longer exercisable
Background on Warrant Dividend
LGL Group announced a dividend of warrants on October 29, 2020, with warrants distributed on November 16, 2020, to stockholders of record on November 9, 2020. Five (5) Warrants were exercisable to purchase one (1) share of common stock at an exercise price of $4.75 per share. Additionally, there was an over-subscription privilege available to Warrant holders who exercised their Warrants in full, whereby such Warrant holder could subscribe for any or all of the shares issuable pursuant to any unexercised Warrants on the terms and subject to the conditions outlined in the Warrant Agreement.
About The LGL Group, Inc.
The LGL Group, Inc. ("LGL," "LGL Group," or the "Company") is a holding company engaged in services, merchant investment and manufacturing business activities. Precise Time and Frequency, LLC ("PTF") is a globally positioned producer of industrial Electronic Instruments and commercial products and services. Founded in 2002, PTF operates from our design and manufacturing facility in Wakefield, Massachusetts. Lynch Capital International LLC is focused on the development of value through investments.
LGL Group was incorporated in 1928 under the laws of the State of Indiana, and in 2007, the Company was reincorporated under the laws of the State of Delaware as The LGL Group, Inc. We maintain our executive offices at 2525 Shader Road, Orlando, Florida 32804. Our telephone number is (407) 298-2000. Our Internet address is www.lglgroup.com. LGL Group common stock is traded on the NYSE American under the symbol "LGL."
LGL Group's business strategy is primarily focused on growth through expanding new and existing operations across diversified industries. The Company's engineering and design origins date back to the early 1900s. In 1917, Lynch Glass Machinery Company ("Lynch Glass"), the predecessor of LGL Group, was formed and emerged in the late 1920s as a successful manufacturer of glass-forming machinery. Lynch Glass was then renamed Lynch Corporation ("Lynch") and was incorporated in 1928 under the laws of the State of Indiana. In 1946, Lynch was listed on the "New York Curb Exchange," the predecessor to the NYSE American. The Company has a had a long history of owning and operating various businesses in the precision engineering, manufacturing, and services sectors.
Cautionary Note Concerning Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company's financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to LGL Group, are intended to identify forward-looking statements.
These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by LGL Group with the Securities and Exchange Commission ("SEC"), including those risks set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the SEC on March 31, 2025. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. LGL Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
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Contact:
The LGL Group, Inc.
info@lglgroup.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279747
Source: The LGL Group Inc.
