Friday, April 22, 2016
Resonant Raises $6.0M In Private Placement
Goleta-based radio filter developer Resonant Inc. has raised $6.0M in a private placement, the company said this morning, from a number of institutional and individual accredited investors. Names of those investors were not announced. The publicly held firm said those investors paid $2.985 per share for a combination of common stock and warrants. The company said it will use the funds to continue its product development efforts and business development activities, and for general and administrative purposes. The new funding comes as the company reportedly has been running short of cash. Resonant makes surface acoustic wave (SAW) filters, used in RF filtering for cell phones. Resonant trades on the NASDAQ as RESN.