Business
Akoustis Announces Pricing of Public Offering of $30.0 Million of Common Stock
Charlotte, N.C., Jan. 19, 2023 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (Nasdaq: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer
About this update from Aktis Oncology, Inc.
[{"type":"text","content":"Charlotte, N.C., Jan. 19, 2023 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (Nasdaq: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer of patented bulk acoustic wave (“BAW”) high-band radio frequency (“RF”) filters for mobile and other wireless applications, announced today that it has priced its underwritten public offering of 10,909,091 shares of its common stock at a public offering price of $2.75 per share. Akoustis expects the gross proceeds from the offering to be approximately $30.0 million, before deducting the underwriting discount and other estimated offering expenses payable by Akoustis. Net proceeds, after the underwriting discount, but before estimated expenses of the offering payable by Akoustis, are expected to be approximately $28.2 million. Certain of the Company’s directors and officers have indicated an intent to purchase shares of common stock in the offering. Akoustis intends to use the net proceeds from the proposed offering to fund operations and the growth of its business, including for capital expenditures, working capital, research and development, servicing its outstanding debt, potential strategic transactions and for other general corporate purposes. Akoustis has granted the underwriters in the offering a 30-day option to purchase up to 1,636,363 additional shares of common stock solely to cover over-allotments. Akoustis expects to close the offering, subject to market and other conditions, on or about January 24, 2023. B. Riley Securities is acting as sole book-running manager for the offering. Craig-Hallum Capital Group LLC and Roth Capital Partners are acting as co-managers. A shelf registration statement relating to the shares of common stock to be issued in the offering was filed with the Securities and Exchange Commission (the “SEC”) and is effective. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the SEC and a final prospectus supplement and accompanying prospectus with respect to the offering will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may be obtained, when available, from B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at (703) 312-9580 or by email ...