WiSA Technologies raises ~$2.1M via warrant exercise inducement; issues new warrants

Datavault AI Inc.

Estimated gross proceeds of ~$2.1M from exercise of April Warrants (1,486,132 shares) by holders.
Holders received new Inducement Warrants for 200% of exercised shares (approx. 2.97M) at $1.33 exercise price, expiring May 17, 2028.
After exercise, no April Warrants remain; March Warrants for 1,674,414 shares at $1.91 still outstanding.
New warrants callable at $0.50 per warrant if underlying shares registered or resalable under Rule 144.
Maxim Group LLC acted as financial advisor; warrants issued in unregistered transaction under Rule 506(b).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Datavault AI Inc. entered into Inducement Letters with holders of the Existing Warrants valued at approximately $2.1 million (effective 2023-05-15).

Action: entry
Agreement: equity purchase
Counterparty: holders of the Existing Warrants
Value: approximately $2.1 million
Effective: 2023-05-15

Exact text from the filing

on May 15, 2023, the Company entered into warrant exercise inducement offer letters (“Inducement Letters”) with holders of the Existing Warrants

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Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-061960

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