GOLETA, CA—(Marketwired – March 27, 2018) – Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front–ends that specializes in delivering designs for difficult bands and complex requirements, today announced the closing of an underwritten public offering for 5,714,286 shares of its common stock at a per share price to the public of $3.50. The Company received net proceeds of approximately $18.4 million from the offering after deducting the underwriting discount and estimated offering expenses.
The Company has granted to the underwriters a 30–day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 857,142 shares to cover over–allotments in connection with the offering, which if exercised in full would increase the gross proceeds to approximately $23 million.
Needham & Company acted as the sole book–running manager of the offering. National Securities Corporation and Craig–Hallum Capital Group acted as co–managers. H.C. Wainwright & Co. and Drexel Hamilton acted as financial advisors. Counsel for Resonant was Stubbs Alderton & Markiles, LLP. DLA Piper LLP (US) served as counsel for Needham & Company.
About Resonant Inc.
Resonant is creating software tools and IP & licensable blocks that enable the development of innovative filter designs and modules for the RF front–end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device's antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise.