secwatch.observer — SEC 8-K summary
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Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0001104659-23-110168
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WiSA Technologies closes $4.8M public offering of Series B Preferred and warrants
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- Gross proceeds ~$4.8M from 87,000 Units at $55/Unit; each Unit has one Series B Preferred share and two warrants.
- Series B Preferred: 20% PIK dividend, convertible at $0.4147, mandatory redemption at $100/share after 2 years.
- Used ~$2.3M of proceeds to repurchase 4.65M existing warrants at $0.50 each.
- Maxim Group acted as placement agent with 8% cash fee (5% for certain investors); 45% OID on Series B Preferred.
- Preferred shares have no voting rights; warrants exercisable at $55 for 2 years; no trading market expected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465923110168/0001104659-23-110168-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465923110168/tm2328752d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-110168

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer