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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.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
