Akoustis Technologies (AKTS) has released an update to notify the public and investors about an entry into a material definitive agreement.
Akoustis Technologies, Inc. entered into an underwriting agreement with Roth Capital Partners, LLC to sell 20,000,000 shares of its common stock in a public offering, with an option for the underwriter to purchase an additional 3,000,000 shares to cover over-allotments, which was fully exercised. The offering, which closed on January 29, 2024, resulted in net proceeds of approximately $10.4 million after deductions. The company has also agreed to indemnify the underwriter against certain liabilities.
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