Akoustis announces $10M registered direct offering priced at-the-market

Akoustis Technologies announced that it has entered into definitive securities purchase agreements for the purchase and sale of an aggregate of 50M shares of the company’s common stock or common stock equivalents at a purchase price of 20c per share of common stock or common stock equivalent in a registered direct offering priced at-the-market under Nasdaq rules. Roth Capital is acting as the exclusive placement agent for the offering. Akoustis expects the gross proceeds from the offering to be approximately $10M and intends to use the net proceeds from the proposed offering for working capital and to fund operations.