Resonant announces plans to conduct initial public offering of stock

Proceeds used for research, development, interest on convertible notes

By Devika Patel

Knoxville, Tenn., Jan. 24 - Resonant Inc. will price an initial public offering of common stock with a 45-day, 15% greenshoe, according to a Form S-1 filed Friday with the Securities and Exchange Commission.

MDB Capital Group LLC is the sole bookrunning manager for the firm-commitment offering.

Proceeds will be used for research and development, to pay interest on the company's $9.4 million convertible promissory notes and for working capital and general corporate purposes.

The Santa Barbara, Calif., company creates filter designs for radio frequency front-ends for the mobile device industry. The company expects its shares will trade on the Nasdaq under the symbol "RESN."

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