Akoustis Technology Closes Private Placement

Akoustis Technology said Tuesday it has closed a private placement offering for 633,000 shares to institutional and accredited investors at a price of $9.00 per share. The offering resulted in gross proceeds of approximately $6 million.

Akoustis manufactures radio frequency filter products for the mobile wireless industry. The proceeds will be used to support operations, including the continued development of the company’s premium high-band BAW RF filters, as well as the consolidation of the supply chain into the STC-MEMS New
York facility.

By Bucky Rini