Akoustis holders convert two series of notes due 2023 to common stock

By Taylor Fox

New York, March 8 – Akoustis Technologies, Inc. announced all holders of its 6.5% convertible senior notes due 2023 and 6.5% convertible senior secured notes due 2023 elected to convert their notes into shares of the company’s common stock prior to redemption, according to a news release.

The company announced both indentures associated with its convertible notes due 2023 have been discharged and all associated liens have been released.

As previously reported, Akousits planned to redeem its outstanding $15 million 6.5% convertible senior notes due 2023 on March 1.

The company issued to the holders of the convertible notes an aggregate of 4,983,633 shares of common stock.

Following the conversions, no debt remained outstanding under either series of convertible notes.

Akoustis Technologies is a Charlotte, N.C.-based manufacturer of RF filters for mobile and other wireless applications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.