WiSA Technologies raises ~$1.8M gross in registered direct offering and warrant private placement

Datavault AI Inc.

Issued 837,209 shares at $2.15/share and warrants for 1,674,418 shares at $1.91 exercise price.
Net proceeds ~$1.5M after fees; at least 20% of gross proceeds to repay August 2022 convertible note.
Warrants immediately exercisable, expire in 5 years, may be exercised on cashless basis.
Proceeds also for working capital, product development, sales/marketing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Datavault AI Inc. entered into Purchase Agreement with certain institutional investors valued at approximately $1.5 million (effective 2023-03-27).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $1.5 million
Effective: 2023-03-27

Exact text from the filing

pursuant to that certain securities purchase agreement, dated March 27, 2023 (the "Purchase Agreement"), among the Company and such institutional investors. The Company received net combined proceeds of approximately $1.5 million

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Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-038386

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