WiSA Technologies signs fifth WiSA E license with top global consumer electronics leader; production H2 2024

Datavault AI Inc.

Licensed WiSA E to a top-3 global CE company (multi-billion $ revenue); includes royalty payments on TX software and engineering services.
Consumer activation model allows end users to enable immersive audio by buying speakers, creating aftermarket revenue stream.
Production devices from this agreement expected in second half of 2024.
Concurrently raised ~$750K in registered direct offering of 225,834 shares at $3.321 and warrants exercisable at $3.196.

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 Placement Agency Agreement with Maxim Group LLC valued at aggregate fee equal to 6.0% of the gross proceeds raised in the Offerings (effective 2024-04-17).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: aggregate fee equal to 6.0% of the gross proceeds raised in the Offerings
Effective: 2024-04-17

Exact text from the filing

on April 17, 2024, the Company entered into a placement agency agreement (the “Placement Agency Agreement”) with Maxim Group LLC (the “Placement Agent”)

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

Datavault AI Inc. entered into Purchase Agreement with certain purchasers valued at aggregate gross proceeds of approximately $750,000 (effective 2024-04-17).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Value: aggregate gross proceeds of approximately $750,000
Effective: 2024-04-17

Exact text from the filing

On April 17, 2024, WiSA Technologies, Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with certain purchasers

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Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-048633

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