Akoustis Technologies, Inc. (NASDAQ:
AKTS) (“Akoustis” or the “Company”), a
manufacturer of patented single-crystal BulkONE® bulk acoustic wave
(BAW) high-band RF filters for mobile and other wireless
applications, announced today the appointment of Suzanne Rudy
to its Board of Directors. Ms. Rudy, age 62, has more than 25
years of financial and corporate governance experience and will
chair the Board’s audit committee. Her addition as Director fills
the sixth seat on the Board.
Suzanne was Vice President of Tax & Corporate Treasurer,
Compliance Officer and Assistant Secretary until November 2015 at
Qorvo, Inc. (Nasdaq: QRVO), a leading supplier of semiconductor
solutions for the wireless communications market. During her
tenure, she was responsible for all international matters, global
tax, legal and risk management, negotiation and execution of
mergers, acquisitions, joint ventures, partnerships and licensing
agreements. In addition, Suzanne’s treasury duties included
financing, traditional procurement of cash and equity transactions.
She sat on the steering committee for Sarbanes-Oxley, was a
director for all 40 subsidiaries of Qorvo, Inc. and a member of the
investor relations team presenting to analysts around the
world.
Prior to Qorvo, Suzanne was the Controller at Precision Fabrics
Group, Inc. a textile spin-off of Burlington Industries.
Additionally, she spent six years as a CPA and manager at the
international accounting firm, BDO Seidman, LLP.
From 2012 to 2016, Suzanne was a Director for Delta Apparel,
Inc., where she served on the audit and compensation committees.
From 2008 to 2011, she was a director for CommunityOne Bank –
acquired by Capital Bank Financial Corp in 2016, a $2B publicly
traded company - where she served as chairwoman of the audit
committee and chairwoman of asset & liability committee.
Suzanne earned a bachelor’s degree in Economics from the
University of California, Santa Barbara, and a Master’s of
Accounting Degree from the University of North Carolina, Chapel
Hill.
Commenting on the announcement, Akoustis Co-Chairman Jerry Neal,
stated, “Suzanne is an incredibly accomplished and highly talented
executive who brings a wealth of experience gained during her
16-year career at Qorvo. I am confident she will be a valuable
addition to the Akoustis Board.”
Ms. Rudy commented, “I am proud to accept
the board appointment and look forward to working
with Co-Chairmen Jerry Neal and Art Geiss, and
CEO Jeff Shealy and the entire Akoustis board and management team
in creating and driving shareholder value. Given my
background in the RF semi-conductor industry, I feel
confident I can provide the team with
meaningful support and insight.”
Akoustis is pioneering next-generation material science to
address the market requirements for improved RF filters - targeting
higher bandwidth, higher operating frequencies and higher output
power compared to incumbent polycrystalline BAW technology deployed
today. Superior performance is driven by the significant advances
of high-purity, single-crystal piezoelectric materials and the
resonator-filter process technology. The advanced material
properties drive electro-mechanical coupling, which translates to
wide filter bandwidth. High-band RF filters are achieved by
leveraging the Company’s high-sound velocity, single-crystal
piezoelectric materials. These single-crystal piezoelectric
materials offer high-thermal conductivity along the path of heat
flow, enabling high-power handling capability of the RF filter.
About Akoustis Technologies, Inc.
Akoustis® (http://www.akoustis.com) is a high-tech RF filter
solutions company that designs and manufactures its unique,
patented BulkONE® technology to produce single-crystal bulk
acoustic wave (BAW) RF filters for mobile and other wireless
markets, which facilitate signal acquisition and accelerate band
performance between the antenna and digital back end. Its
BulkONE® technology will service the fast growing multi-billion
dollar market of device OEMs, network providers, and consumers to
diminish Front End phone heat, battery drain and signal loss -- all
considered to be directly related to current RF polycrystalline
filter technologies' limitations. Akoustis’ capital-efficient
business model leverages new and existing investments in
manufacturing infrastructure within the semiconductor
industry. The Company owns and operates a 120,000 sq. ft.
ISO-9001 certified commercial wafer-manufacturing facility located
in Canandaigua, NY, which includes a state-of-the-art class 100 /
class 1000 cleanroom facility - tooled for 150-mm diameter - for
the design, development, fabrication and packaging of RF filter,
MEMS and semiconductor devices. Akoustis is headquartered in the
Piedmont technology corridor between Charlotte and Raleigh, North
Carolina.
Forward-Looking Statements
Statements in this press release that are not descriptions of
historical facts are forward-looking statements, which are based on
management’s current expectations and assumptions and are subject
to risks and uncertainties. In some cases, you can identify
forward-looking statements by terminology, including “anticipates,”
“believes,” “can,” “continue,” “could,” “estimates,” “expects,”
“intends,” “may,” “plans,” “potential,” “predicts,” “should,”
“will,” “would” or the negative of these terms or other comparable
terminology. Factors that could cause actual results to
differ materially from those currently anticipated include, without
limitation,
- risks relating to the results of our research and development
activities, including uncertainties relating to semiconductor
process manufacturing;
- the early stage of our BulkONE® technology presently under
development;
- our need for substantial additional funds in order to continue
our operations and the uncertainty of whether we will be able to
obtain the funding we need;
- our ability to retain or hire key scientific, engineering or
management personnel; our ability to protect our intellectual
property rights that are valuable to our business, including patent
and other intellectual property rights;
- our dependence on third-party manufacturers, suppliers,
research organizations, testing laboratories and other potential
collaborators;
- our acquisition of STC-MEMS could disrupt our business, may not
be successfully integrated, and we may not be able to operate it
profitably or realize the benefits of the acquired business within
expected timeframes or at all;
- our ongoing attempts to transfer the Trusted Foundry
accreditation from STC-MEMS to Akoustis may be delayed for various
reasons or may never occur;
- our ability to successfully market and sell our
technologies;
- the size and growth of the potential markets for any of our
technologies, and the rate and degree of market acceptance of any
of our technologies;
- competition in our industry; and
- regulatory developments in the U.S. and foreign countries.
In light of these risks, uncertainties and assumptions, the
forward-looking statements regarding future events and
circumstances discussed in this press release may not occur, and
actual results could differ materially and adversely from those
anticipated or implied in the forward-looking statements. You
should not rely upon forward-looking statements as predictions of
future events. The forward-looking statements included in
this presentation speak only as of the date hereof, and, except as
required by law, we undertake no obligation to update publicly or
privately any forward-looking statements for any reason after the
date of this presentation to conform these statements to actual
results or to changes in our expectations. The materials do not
constitute an offer to sell, or the solicitation of any offer to
buy, any securities of Akoustis, or any other entity
whatsoever. Any representation to the contrary by any party
should be ignored.
Akoustis Contact Information:
COMPANY: Dave Aichele Akoustis Technologies,
Inc. VP of Business Development 704-997-5735, ext. 106
daichele@akoustis.com INVESTORS:
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
858-794-9500
bprag@delmarconsulting.com
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