- Akoustis Technologies ( NASDAQ: AKTS ) -15.8% aftermarket on Wednesday announced that it will offer and sell shares of its common stock in an underwritten public offering.
- Akoustis expects to grant the underwriter a 30-day option to purchase additional shares of common stock sold in the offering solely to cover over-allotments.
- Akoustis intends to use the net proceeds from the proposed offering to fund operations and the growth of its business, including for capital expenditures, among others.
- B. Riley Securities is acting as sole book-running manager for the offering.
- Craig-Hallum Capital Group and ROTH Capital Partners are acting as co-managers.
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Akoustis shares tumble ~16% after announcing stock offering