Resonant announced that they have raised $11.5 Million by publicly offering of 2,715,000 shares of their common stock. This influx of funds will will not only allow them to continue to drive on-going customer acquisition and execute on their business plan, but also extend and improve the capabilities of their EDA platform.
They plan to do this by capitalizing on the work they are doing with current customers across multiple filter manufacturers and foundries, further expanding their IP portfolio and increasing the opportunities to commercialize their ISN design platform technology.
Combined with current cash, they expect this financing to provide sufficient capital, in the absence of revenue, to fund their planned operations into 2018.
National Securities Corporation, a wholly owned subsidiary of National Holdings, acted as the sole book-running manager of the offering. The Liquid Venture Partners group at National Securities was responsible for sourcing and executing the offering. Counsel for Resonant was Stubbs Alderton & Markiles, LLP, while Greenberg Traurig LLP served as counsel for National Securities. 2,715,000 shares of their common stock were underwritten at $4.25/Share.
