Akoustis Technologies (AKTS) Prices 4.8M Share Common Offering at $6.25/Sh

Akoustis Technologies, Inc. (NASDAQ: AKTS) announced today that it has priced its underwritten public offering of 4,800,000 shares of its common stock at a public offering price of $6.25 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.

Akoustis intends to use the net proceeds from the offering to fund operations and the growth of its business, including for capital expenditures, working capital, research and development, the commercialization of its technology and other general corporate purposes.

Akoustis has granted the underwriters in the offering a 30-day option to purchase up to 720,000 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 December 16, 2019.

Craig-Hallum Capital Group LLC is acting as sole book-running manager for the offering, and Roth Capital Partners and Loop Capital Markets are acting as co-managers for the offering.

You May Also Be Interested In

• Wedbush Starts Aktis Oncology (AKTS) at Outperform
• Azio AI Holdings names South Texas compute campus Atlas One
• Ethan Allen shareholder Bergeron criticizes $3 special dividend