Blog Coverage Resonant Signs Licensing Agreement

Upcoming AWS Coverage on Tower Semiconductor Post-Earnings Results

LONDON, UK / ACCESSWIRE / March 10, 2017 / Active Wall St. blog coverage looks at the headline from Resonant Inc. (NASDAQ: RESN) as the Company announced on March 09, 2017, that it has signed an additional licensing agreement with an existing Tier One customer. The Company which is a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements stated that the new license agreement encompasses the development and licensing of a TDD filter, a FDD filter and a Quadplexer, designed using Chip Scale Packaging. All three are considered difficult bands, and are targeted for the Chinese market. Register with us now for your free membership and blog access at:

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One of Resonant’s competitors within the Semiconductor – Integrated Circuits space, Tower Semiconductor Ltd. (NASDAQ: TSEM), reported on February 13, 2017, results for the fourth quarter and full year of 2016 ended December 31, 2016. AWS will be initiating a research report on Tower Semiconductor in the coming days.

Today, AWS is promoting its blog coverage on RESN; touching on TSEM. Get all of our free blog coverage and more by clicking on the link below:

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The Agreement

Resonant stated that one of the designs will support High Performance User Equipment (HPUE), which is used for increased coverage at high frequency bands. Another is a Wi-Fi co-existence filter that protects Wi-Fi while allowing cellular to work. The Quadplexer is a completely new design for Resonant, which it believes to be one of the hardest Quadplexers on the market. The Company stated that design acceptance, milestone payments, and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements.

“We believe this extension to our licensing agreement further validates our customer’s confidence in our filter design capabilities and their intentions to commercialize the filters we are designing for them,” said George Holmes, CEO of Resonant Inc, “These three filters focused on the massive Chinese market are expected to help this customer broaden their revenue potential and accelerate their growth. As our collaboration deepens, we look forward to pursuing additional opportunities that have the potential to further de-risk our path to revenue.”

Private Placement

On February 21, 2017, Resonant announced that it has entered into a definitive agreement with an affiliate of Longboard Capital Advisors, LLC, an existing stockholder of Resonant, to raise gross proceeds of $7.5 million in a private placement of units at a per-unit price of $4.61. Longboard and its affiliates led Resonant’s financing in September 2016. They have also provided early stage funding to Resonant and have been valued long-term investors.

Each unit consists of one share of the Company’s common stock, par value $0.001 per share (Common Stock), and one warrant to purchase one share of Common Stock at an exercise price of $8.25 per share. The warrant is exercisable for a period commencing six months and ending 2.5 years from the date of the closing of the Offering. Resonant anticipates using the net proceeds from the fund rising to continue its product development efforts and business development activities, and for general and administrative purposes.

“Resonant continues to execute on an aggressive pace to deliver on the power of its ISN platform and capitalize on the strength of its intellectual property and team,” said Mr. Holmes, “It’s through investor confidence from firms like Longboard that we have been able to focus on customer acquisition, socket expansion and delivering solutions with increasing complexity to our customers.”

Resonant will be required to file a resale registration statement with the Securities and Exchange Commission no later than April 15, 2017, that covers the resale by the purchaser of the shares of Common Stock, and the shares of Common Stock underlying the warrants, purchased in the Offering.

Stock Performance

At the closing bell, on Thursday, March 09, 2017, Resonant’s stock climbed 4.00%, ending the trading session at $4.94. A total volume of 174.38 thousand shares were traded at the end of the day, which was higher than the 3-month average volume of 55.00 thousand shares. In the last month and previous three months, shares of the Company have advanced 14.35% and 9.53%, respectively. Moreover, the stock soared 155.96% in the previous twelve months. At Thursday’s closing price, the stock’s net capitalization stands at $61.45 million.

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