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C Street Advisory Group handles media for Akoustis Technology as it files for Chapter 11 after a judge ordered it to pay $59M in damages and fees to Qorvo Inc in a trade secret misappropriation and patent infringement case.
The Huntersville, NC-based company makes high-band radio frequency products for the mobile and wireless sectors.
The bankruptcy filing is “a strategic step to provide flexibility and allow us to continue operations while our sale process continues with momentum,” according to Akoustis CEO Kamran Cheema.
Akoustis has negotiated a stalking horse asset purchase agreement with Gordon Brothers Commercial & Industrial, LLC for the purchase of certain of its assets.
It intends to use the court-supervised sale process to seek the highest or otherwise best bid for other assets.
Akoustis reported a 29 percent jump in revenues to $9M for the quarter ended September. It recorded a $6.4M net loss compared to $20.1M a year ago in red ink.
FTI Consulting’s Alex Miehls has joined Teneo as managing director in its strategy and communications unit.
SKDK and ICR handle Intra-Cellular Therapies as it is getting acquired by Johnson & Johnson for $14.6B.
FGS Global represents Energy Capital Partners, which is selling Calpine Corp. to Constellation Energy Corp. for $16.4B in cash and stock.
Ted McHugh, who was most recently managing director, head of strategic situations and investor relations at Edelman Smithfield, joins advisory and investing platform Consello as senior managing director.
Collected Strategies represents Forward Air Corp. as the Tennessee-based freight forwarding company reviews its strategic options.
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