News Press Releases

Akoustis(TM) Announces Completion of Private Offering

AKTS | June 10, 2015

Akoustis Technologies, Inc. (OTCQB: AKTS) (“Akoustis” or the “Company”), a manufacturer of innovative single crystal Bulk ONE™ RF filters for mobile wireless, announced today that it has completed a private offering of its common stock to accredited investors, with the sale of 261,000 additional shares at a price of $1.50 per share, resulting in additional gross proceeds to Akoustis of $391,500. Akoustis had previously sold approximately 3.53 million shares of common stock in this private offering in May 2015, at the same purchase price per share, for aggregate gross proceeds of $5.3 million. The total gross amount raised by Akoustis in this offering was $5.7 million, before deducting commissions and expenses related to the offering.

“We are pleased to receive this oversubscription of our private offering,” said Jeff Shealy, CEO of Akoustis. “As we close this round, we continue to execute on our objectives to develop a new class of high selectivity bulk acoustic wave (BAW) RF filters for the mobile wireless market, including smartphones,” added Shealy.

The Company intends to use the net proceeds of the offering principally for development and qualification of its single crystal piezoelectric materials, resonators and filter devices related to its Bulk ONE™ acoustic wave RF filter technology.

Northland Capital Markets and Katalyst Securities LLC, member FINRA/SIPC, were the exclusive placement agents for the best efforts private placement offering. Northland Capital Markets is the trade name for certain capital markets and investment banking activities of Northland Securities, Inc., member FINRA/SIPC.

The securities sold in the private placement have not been registered under the Securities Act of 1933 and may not be resold absent registration under, or exemption from registration under, such Act.

About Akoustis

Akoustis™ (www.akoustis.com) is a high-tech RF filter solutions company that manufactures its unique, patent-pending Bulk ONE™ technology to produce single-crystal bulk acoustic wave (BAW) filters for the mobile-wireless industry. Akoustis’ “fabless” business model is capital efficient, leveraging existing manufacturing infrastructure in the semiconductor industry. Founded in 2014, Akoustis™ is located in the Piedmont technology corridor between Charlotte and Raleigh, North Carolina.

Forward-Looking Statements

Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management’s current expectations and assumptions and are subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” “will,” “would” or the negative of these terms or other comparable terminology. Factors that could cause actual results to differ materially from those currently anticipated include, without limitation,

risks relating to the results of our research and development activities, including uncertainties relating to semiconductor process manufacturing;
the early stage of our Bulk ONE™ technology presently under development;
our need for substantial additional funds in order to continue our operations and the uncertainty of whether we will be able to obtain the funding we need;
our ability to retain or hire key scientific, engineering or management personnel; our ability to protect our intellectual property rights that are valuable to our business, including patent and other intellectual property rights;
our dependence on third-party manufacturers, suppliers, research organizations, testing laboratories and other potential collaborators;
our ability to successfully market and sell our technologies;
the size and growth of the potential markets for any of our technologies, and the rate and degree of market acceptance of any of our technologies;
competition in our industry; and
regulatory developments in the U.S. and foreign countries.

In light of these risks, uncertainties and assumptions, the forward-looking statements regarding future events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements included in this presentation speak only as of the date hereof, and, except as required by law, we undertake no obligation to update publicly or privately any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations.

THESE MATERIALS DO NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF ANY OFFER TO BUY, ANY SECURITIES OF AKOUSTIS, INC., OR OF ANY OTHER ENTITY WHATSOEVER. ANY REPRESENTATION TO THE CONTRARY BY ANY PARTY SHOULD BE IGNORED.