SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On July 31, 2019, we entered into a securities purchase agreement with Murata Electronics North America, Inc., an affiliate of Murata Manufacturing Co., Ltd., which agreement was subsequently joined by additional institutional and individual accredited investors, to raise gross proceeds of approximately $10.0 million in a private placement of common stock at a per-share price of $2.53. The initial closing of the Offering, for approximately $3.0 million, is scheduled to occur on or about August 12, 2019, subject to satisfaction of customary closing conditions. The closing of Murata’s investment for $7.0 million is subject to the execution of a definitive multi-year commercial agreement that provides Murata with rights to multiple designs utilizing the Company’s technology, as well as applicable governmental approval. We expect to use the proceeds from the offering to continue our product development efforts and business development activities, including those that will be the subject of our commercial agreement with Murata, and for general and administrative purposes.