The LGL Group, Inc. announced on April 22, 2025, that its Board of Directors nominated Vice Admiral Colin Kilrain to its Board, effective April 16, 2025. Vice Admiral Kilrain brings extensive experience from his distinguished career in the Department of the Navy, including roles as assistant to the Chairman of the Joint Chiefs of Staff.
The company also provided an update on its acquisition of Morgan Group Holding Co., stating that on April 15, 2025, LGL entered into an amended and restated subscription agreement to purchase 1,000,000 newly issued shares for $2.00 per share. This transaction has received all necessary approvals and is expected to close in the second quarter, with LGL appointing Tim Foufas as Chairman and Herve Francois as Chief Executive Officer of MGHL.
Additionally, LGL clarified a previous statement regarding its P3 Logistic Solutions unit's involvement with DARPA. P3 responded to a Request for Information (RFI) for the Venture Horizons program, but no selection has been made by DARPA as of this date. The company is also exploring an overallotment privilege for its outstanding warrants and expects to file an updated Form S-1 in the second quarter.
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