Material Event Form 8 K

Item 8.01 Other Events

As previously disclosed, on August 19, 2024, Akoustis Technologies, Inc. (the "Company") received a notice from the Staff of the Nasdaq Listing Qualifications Department (the "Staff") indicating that the bid price for the Company's common stock had closed at $0.10 or less per share for the 10-consecutive trading day period ended August 16, 2024. As a result, and in accordance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), the Staff determined to delist the Company's common stock from The Nasdaq Capital Market (the "Delisting Determination"). Additionally, as previously disclosed, on October 10, 2024, the Company received a written notice from the Staff indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2,500,000 in stockholders' equity for continued listing (the "Stockholders' Equity Requirement"), based on the Company's stockholders' deficit as of June 30, 2024 reported in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on October 8, 2024. The Company appealed the Delisting Determination and, on October 8, 2024, presented its compliance plans in respect of the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") and the Stockholders' Equity Requirement at a hearing (the "Hearing") before the Nasdaq Hearings Panel (the "Panel").

On October 14, 2024, the Company received a decision from the Panel granting its request for continued listing on The Nasdaq Capital Market, subject to the following conditions:

The Company is monitoring the closing bid price of its common stock and will consider options to regain compliance with the Minimum Bid Price Requirement, including holding the previously announced annual meeting of stockholders on November 21, 2024 (the "Annual Meeting"), at which Annual Meeting the Company will seek stockholder approval for the implementation of a reverse stock split of the Company's common stock at a ratio between 1-for-50 and 1-for-250, inclusive, with the ultimate ratio to be determined by the Company's board of directors in its sole discretion. However, there can be no assurance that the Company will timely regain compliance with the Minimum Bid Price Requirement or the Stockholders' Equity Requirement.