Item 7.01 Regulation FD Disclosure

As reported in a Schedule 13D filed by Robert Fitzgerald on February 20, 2013, PHAZAR CORP has received a going private merger offer from a company controlled by Mr. Fitzgerald, and the independent directors of PHAZAR CORP have approved the term sheet on February 18, 2013. A copy of the term sheet is attached hereto.

The approved term sheet includes a share purchase price of $1.25 per share in cash and has a 90 day exclusivity. Once there is a definitive agreement, PHAZAR CORP will prepare a proxy statement and call a special meeting of the shareholders to consider the proposal.

The only binding terms of the term sheet are exclusivity, expense reimbursement and counterparts.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Approved Term Sheet

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