Akoustis Technologies (AKTSQ) Proxy Filing summary

Executive summary

• Nasdaq issued a delisting determination due to the stock trading below $0.10 for 10 consecutive days and a stockholders' equity deficit as of June 30, 2024.

• The company appealed and was granted continued listing, contingent on meeting bid price and equity requirements by December 17, 2024, and January 31, 2025, respectively.

• Options to regain compliance include a proposed reverse stock split, subject to shareholder approval at the annual meeting on November 21, 2024.

• Forward-looking statements highlight risks related to compliance, capital raising, and business impact if delisted.

Voting matters and shareholder proposals

• Shareholders will vote on a reverse stock split at a ratio between 1-for-50 and 1-for-250, with the final ratio determined by the board.

• No changes have been made to the proposals to be voted on at the annual meeting.

Board of directors and corporate governance

• The board retains discretion to determine the final reverse split ratio if approved by shareholders.