Company sells 313,125 common shares at $1.60 apiece through offering
By Devika Patel
Knoxville, Tenn., March 11 – Akoustis Technologies Inc. completed a $501,000 private placement of stock on March 10, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 313,125 common shares at $1.60 per share. The price per share is identical to the closing share price on March 9.
The financing was led by Akoustis director Jerry Neal and chief executive officer Jeff Shealy.
The Charlotte, N.C., company develops technology to reduce overheating and enable longer battery life in smartphones.
| Issuer: | Akoustis Technologies Inc.
|
| Issue: | Common stock
|
| Amount: | $501,000
|
| Shares: | 313,125
|
| Price: | $1.60
|
| Warrants: | No
|
| Investor: | Jerry Neal and Jeff Shealy (leads)
|
| Settlement date: | March 10
|
| Stock symbol: | OTCBB: AKTS
|
| Stock price: | $1.60 at close March 9
|
| Market capitalization: | $20.66 million
|
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