AKOUSTIS TECHNOLOGIES, INC. - AKTS STOCK NEWS

Akoustis Technologies (NASDAQ: AKTS) announced a new development order for Wi-Fi 6E/7 XBAW® filter solutions targeting the access point market. This order comes from a leading Asian RF front-end module maker, with qualified parts expected by mid-2024. Akoustis aims to leverage its existing designs and extensive product portfolio to support the customer's enhancement of their Wi-Fi offerings. The company reports strong demand for its Wi-Fi, 5G mobile, and infrastructure products, achieving multiple design wins and increasing production capacity to approximately 0.5 billion filters annually.

Akoustis Technologies, Inc. (NASDAQ: AKTS) has appointed Michelle L. Petock to its board of directors, expanding the board to eight members. Petock, with 25 years of experience in finance and law, will contribute to the Strategic Development and Audit Committees. Co-Chairman Jerry Neal praised her extensive skills as a significant asset. During the December 2022 quarter, Akoustis reported strong demand for its 5G mobile and Wi-Fi products, with advancements in production capacity at its New York facility expected to reach 0.5 billion filters annually.

Akoustis Technologies, Inc. (NASDAQ: AKTS) announced on March 8, 2023, that Founder and CEO Jeff Shealy will attend the 35th Annual Roth Conference in Laguna Nigel, CA, from March 12-14, 2023. Investors can schedule meetings with management through their Roth representative. The company continues to see strong demand for Wi-Fi and 5G products, including its patented XBAW filters and new RFMi resonator solutions. Akoustis is ramping up production capacity at its New York facility to meet increasing orders, targeting 0.5 billion filters annually. Over 20 design wins have been achieved for its XBAW filters, crucial for mobile communications.

Akoustis Technologies (NASDAQ: AKTS) reported a record revenue of $5.9 million for the fiscal quarter ending December 31, 2022, marking a 59% year-over-year increase. The company anticipates further growth, projecting a sequential revenue increase of 20%-40% in the March quarter, driven by strong demand for its XBAW filter products in various markets including 5G and Wi-Fi. With the recent acquisition of GDSI and efforts to expand manufacturing in New York, Akoustis aims to leverage the CHIPS and Science Act of 2022. The company reported a net loss of $11.2 million for the quarter, with an operating loss of $12.9 million.

Akoustis Technologies, Inc. (NASDAQ: AKTS) will webcast its Q2 FY23 results on February 7, 2023, at 8:00 AM ET, followed by a Q&A session. The company continues to see strong demand for its Wi-Fi, 5G mobile, and infrastructure products, including its patented XBAW® filters. In Q2, they shipped 5G XBAW® wafers featuring advanced wafer-level packaging technology. Akoustis is ramping up production capacity at its New York facility to reach approximately 0.5 billion filters annually. With over 20 customer design wins, the firm is well-positioned for growth in the expanding RF filter market.

Akoustis Technologies has successfully closed an oversubscribed public offering, raising approximately $32 million by offering 12,545,454 shares at $2.75 each. The offering included a participation of over $1 million from management, notably a $900K investment from founder and CEO Jeff Shealy. The funds are designated for operations, business growth, capital expenditures, and R&D, alongside servicing outstanding debt. The offering was managed by B. Riley Securities, with additional management from Craig-Hallum Capital Group and Roth Capital Partners.

Akoustis aims to leverage these funds to enhance its manufacturing capabilities and capitalize on growth opportunities in the RF filter market.

Akoustis Technologies, Inc. (Nasdaq: AKTS) has announced the pricing of its underwritten public offering of 10,909,091 shares of common stock at $2.75 per share, aiming for gross proceeds of approximately $30 million. After underwriting discounts, net proceeds are expected to be around $28.2 million. Funds will support operations, capital expenditures, R&D, and potential strategic transactions. The offering's expected closing date is January 24, 2023, with a 30-day option for underwriters to purchase an additional 1,636,363 shares. B. Riley Securities is the book-running manager for this offering.

Akoustis Technologies, Inc. (NASDAQ: AKTS) has announced its first high-volume purchase order for a 5G mobile filter from a major Tier-1 RF component customer. This filter, manufactured using the XBAW® process, will be integrated into a multiplexer designed for 5G mobile devices, expected to ship in the first half of 2023. Akoustis's new wafer-level-package (WLP), developed in New York, addresses challenges in 5G and Wi-Fi coexistence. The company anticipates increased production capacity, aiming for approximately 0.5 billion filters annually. This order signifies strong demand and a robust sales funnel for Akoustis's RF filter solutions.

Akoustis Technologies (Nasdaq: AKTS) announced its intention to conduct an underwritten public offering of common stock, with plans to grant underwriters a 30-day option for additional shares. The offering's details, including size and terms, remain subject to market conditions. Proceeds from the offering will fund operations, including capital expenditures, research, debt servicing, and general corporate purposes. B. Riley Securities, Inc. acts as the sole book-running manager, with additional co-managers involved. A shelf registration statement for the offering is effective, with further details available in a forthcoming prospectus.