Akoustis prices 20M shares at 50c in underwritten public offering

Akoustis Technologies announced that it has priced its underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $0.50 per share. Akoustis expects the gross proceeds from the offering to be approximately $10.0 million, before deducting the underwriting discount and other estimated offering expenses payable by Akoustis. Roth Capital Partners is acting as sole manager for 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, the commercialization of its technology, 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 3,000,000 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 January 29, 2024.