Akoustis Technologies (together with its wholly-owned subsidiaries Akoustis, Inc. and RFM Integrated Device Inc., “Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, has successfully completed the sale of substantially all of its assets to Tune Holdings Corp. (“Tune Holdings”), a wholly owned subsidiary of Space Exploration Technologies Corp. (“SpaceX”), in a going-concern transaction pursuant to Section 363 of the U.S. Bankruptcy Code (the “Transaction”).
Through the Transaction and in compliance with the sale order entered by the U.S. Bankruptcy Court for the District of Delaware (the “Court”), Tune Holdings has acquired substantially all of Akoustis’s assets, with the exception of those owned by debtor Grinding and Dicing Services, Inc. (“GDSI”), for approximately $30.2 million in cash and the assumption of certain liabilities.
“We are pleased to close this strategic transaction, which will maximize value for our creditors and preserve the vast majority of our employees’ jobs,” said Mark Podgainy, Finance Transformation Officer of Akoustis. “We are grateful to our loyal customers, suppliers and employees who have stood with us through this process.”
Following completion of the Court-approved auction process on April 25, 2025, the Company selected Tune Holdings as the winning bidder for substantially all of its assets, except those owned by GDSI. As part of the Transaction, Tune Holdings will continue Akoustis’s operations and team infrastructure, ensuring ongoing support for customers worldwide. Going forward, Tune Holdings will deliver next-generation BAW high-band RF filters to customers around the world.
