B. Riley Securities - Akoustis Technologies

B. Riley Served as Sole Bookrunner on Akoustis Technologies (Nasdaq: AKTS) $34.5mm Common Offering

LOS ANGELES, February 9, 2023 - B. Riley Securities, Inc., a leading middle market investment bank, is pleased to have served as the sole book-running manager for Akoustis Technologies, Inc. (Nasdaq: AKTS) in connection with its successful underwritten offering of common stock which resulted in gross proceeds of approximately $34.5 million to Akoustis.

Akoustis intends to use the net proceeds from the offering to fund operations and the growth of its business, including capital expenditures, working capital, research and development, the commercialization of its technology, servicing its outstanding debt, potential strategic transactions, and other general corporate purposes.

Akoustis management participated in the offering with over $1 million in aggregate investments, including an investment of $900K by Akoustis Founder & CEO, Jeff Shealy.

Mr. Jeff Shealy, commented, "B. Riley did an outstanding job for us on this important transaction. This capital injection supports Akoustis during strong business momentum with our recent acquisition of GDSI and receipt of our first Tier-1 5G mobile high-volume order. From the beginning, the B. Riley team displayed in-depth industry knowledge, and provided invaluable market insight and high-level execution on the transaction. B. Riley's personnel, from senior to junior members, were plugged in 24/7 and worked tirelessly during the entire engagement. Their professionalism and hard work ethic were very noticeable and greatly appreciated. Their entire team really took our banking relationship experience to the next level. We came out of this deal with $32 million
of [net] new capital, several strong new cornerstone investors, and a great partner in B. Riley."

B. Riley's deal team included Jon Merriman, Craig Krinbring, Michael Schlotman and David Park. For more information, contact Jon Merriman at 415.229.4848 or Craig Krinbring at 415.229.4849.

About Akoustis Technologies, Inc.
Akoustis® is a BAW RF filter solutions company that is pioneering next-generation materials science and MEMS wafer semiconductor manufacturing to address the market requirements for improved RF filters - targeting higher bandwidth, higher operating frequencies and higher output power compared to legacy polycrystalline BAW technology. The Company utilizes its proprietary and patented XBAW® manufacturing process to produce bulk acoustic wave RF filters for mobile and other wireless markets, which facilitate signal acquisition and accelerate band performance between the antenna and digital back end. Superior performance is driven by the significant advances of poly-crystal, single-crystal and other high purity piezoelectric materials and the resonator-filter process technology which enables optimal trade-offs between critical power, frequency and bandwidth performance specifications.

Akoustis plans to service the fast growing multi-billion-dollar RF filter market using its integrated device manufacturer (IDM) business model. The Company owns and operates a 125,000 sq. ft. ISO-9001:2015 certified commercial wafer-manufacturing facility located in Canandaigua, NY, which includes a class 100 / class 1000 cleanroom facility - tooled for 6 inch diameter wafers - for the design, development, fabrication and packaging of RF filters, MEMS and other semiconductor devices. Akoustis Technologies, Inc. is headquartered in the Piedmont technology corridor near Charlotte, North Carolina.

About B. Riley Securities
B. Riley Securities is a leading middle market investment bank that provides corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY). For more information, visit www.brileysecurities.com.

Media Contact:
Jo Anne McCusker
B. Riley Financial
(646) 885-5425