WiSA closes ~$1.9M registered direct offering and private placement of stock and warrants

Datavault AI Inc.

Issued 361,904 shares at $5.25/share and warrants to purchase up to 542,856 shares at $5.06/share.
Gross proceeds of approximately $1.9 million from the combined offerings.
Warrants are exercisable immediately, expire in 5 years; alternative cashless exercise requires stockholder approval.
Warrant amendment for existing April 19 warrants also conditions alternative cashless exercise on stockholder approval.

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 Securities Purchase Agreement with certain purchasers valued at Registered direct offering of 361,904 shares at $5.25 per share and concurrent private placement of (effective 2024-04-19).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Value: Registered direct offering of 361,904 shares at $5.25 per share and concurrent private placement of
Effective: 2024-04-19

Exact text from the filing

On April 23, 2024, the Company closed (the “Closing”) an offering with certain purchasers signatory to that certain securities purchase agreement dated April 19, 2024 (the “Purchase Agreement”).

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

Datavault AI Inc. entered into Placement Agency Agreement with Maxim Group LLC valued at Placement agent on reasonable best efforts basis; fee of 8.0% of gross proceeds; expense reimburseme (effective 2024-04-19).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: Placement agent on reasonable best efforts basis; fee of 8.0% of gross proceeds; expense reimburseme
Effective: 2024-04-19

Exact text from the filing

on April 19, 2024, the Company entered into a placement agency agreement (the “Placement Agency Agreement”) with Maxim Group LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to act as placement agent on a “reasonable best efforts” basis in connection with the Offerings.

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312 material agreements filed in the last 30 days. Browse all material agreements →

Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-050573

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