Akoustis Technologies, Inc. (OTCMKTS:AKTS) Files An 8-K Other Events
Item 8.01Other Events.
In connection with a private placement offering (the Offering),
Akoustis Technologies, Inc. (the Company) has received an
executed subscription agreement from an accredited investor for
488,900 shares of the Companys common stock, par value $0.001 per
share (the Common Stock), at a fixed purchase price of $9.00 per
share, for aggregate gross proceeds of $4,400,100 (the New
Subscription). As previously reported in the Companys Form 10-Q
for the quarterly period ended March 31, 2017, filed with the
Securities and Exchange Commission on May 15, 2017, the Company
previously sold 174,100 shares of its Common Stock in the
Offering. If the Company closes on the New Subscription, the
aggregate gross proceeds received in the Offering will be
$5,967,000, of which $5,400,000 will be attributable to funds
managed by the same portfolio manager. However, there is no
guarantee that the New Subscription will close. The Offering was
exempt from registration under Section 4(a)(2) of the Securities
Act of 1933, as amended (the Securities Act), in reliance upon
the safe harbor provided by Rule 506(b) of Regulation D.
This Current Report on Form 8-K is filed in accordance with
Securities Act Rule 135c and is neither an offer to sell any
securities, nor a solicitation of an offer to buy any securities,
nor will there be any offer or sale of any securities in any
state or jurisdiction absent registration or compliance with an
applicable exemption from registration requirements.
About Akoustis Technologies, Inc. (OTCMKTS:AKTS)
Akoustis Technologies, Inc., formerly Danlax, Corp., is a fabless company engaged in developing, designing and manufacturing radio frequency (RF) filter products for the mobile wireless device industry. The Company operates in the telecommunications and fiber optics sector. The Company is focused on commercializing and manufacturing its Bulk ONE acoustic wave technology to address the critical frequency-selectivity requirements in mobile smartphones. The Company plans to use single crystal piezoelectric materials to develop a class of RF filters with a fundamental advantage to reduce losses over existing thin film technologies. The Company’s piezoelectric materials contain high-purity Group III element nitride materials and possess a signature, which can be detected by conventional material metrology tools. The Company is focused on the commercialization of bandwidth RF filters operating in the high frequency portion of the RF Front end (RFFE) (called high band). Akoustis Technologies, Inc. (OTCMKTS:AKTS) Recent Trading Information
Akoustis Technologies, Inc. (OTCMKTS:AKTS) closed its last trading session 00.00 at 10.00 with shares trading hands.
