WiSA Technologies grants existing investors right to participate in 90% of future financings through Sep 2024

Datavault AI Inc.

On Sep 1, 2023, WiSA entered waiver agreement with purchasers from March and April 2023 securities purchase agreements.
Purchasers waived prohibition on Variable Rate Transactions in exchange for participation right in subsequent financings.
Participation right covers up to 90% of aggregate dollar value raised in any financing on or before Sep 1, 2024.
Participation is allocated pro rata among purchasers based on their prior subscription amounts.
Company must give notice at least 4 hours before pricing; purchasers have 2 hours to respond.

item 1.01 item 9.01

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 Waiver Agreement with the Purchasers (effective 2023-09-01).

Action: entry
Agreement: equity purchase
Counterparty: the Purchasers
Effective: 2023-09-01

Exact text from the filing

On September 1, 2023, the Company entered into a waiver agreement (the “Waiver Agreement”) with the Purchasers, whereby the Purchasers agreed to waive the prohibition on Variable Rate Transactions set forth in each Securities Purchase Agreement.

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Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-097852

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