AmpliTech Group, Inc. (NASDAQ:AMPG, AMPGR, AMPGZ))) (the "Company" or "AmpliTech"), a designer, developer, and manufacturer of advanced radio frequency (RF) microwave components, 5G communication systems, and quantum computing low-noise amplifiers (LNAs), today announced that its Board of Directors has authorized a stock repurchase program under which the Company may repurchase up to $10 million of its outstanding common stock over the next 24 months. In conjunction with the authorization, the Company also announced the termination of its At-The-Market (ATM) equity offering program, effective immediately.

"Our share repurchase authorization reinforces our commitment to disciplined capital allocation and reflects our confidence in AmpliTech Group's long-term growth," said Fawad Maqbool, Founder and Chief Executive Officer of AmpliTech Group. "Our strong balance sheet, record revenue, growing order book, and robust capital position support our ongoing growth while allowing us to return excess capital to stockholders."

Details of the Repurchase Program

Under the program, repurchases may be made from time to time through open market purchases, privately negotiated transactions, block trades, or other means in accordance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Company may also enter into a trading plan under Rule 10b5-1, which would permit shares to be repurchased during periods when the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading blackout periods.

The timing, manner, price, and amount of any repurchases will be determined by the Company at its discretion and will depend on a variety of factors, including market conditions, the trading price of the Company’s common stock, applicable legal and regulatory requirements, and other considerations. The program does not obligate the Company to acquire any particular number of shares, and it may be suspended, modified, or discontinued at any time without prior notice. The repurchase program is expected to be funded from the Company’s existing cash on hand.

Termination of ATM Equity Offering

Effective immediately, the Company has terminated the offering of common stock under its yet untapped ATM equity offering program. The Company believes its current balance sheet (including a strong cash position, improved working capital, and no debt), together with anticipated operating performance, provides sufficient resources to fund its growth initiatives without additional equity issuance under the ATM facility.