secwatch.observer — SEC 8-K summary
======================================

Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001104659-24-052756
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

WiSA Technologies raises $2.4M in offering + warrants; special meeting for reverse split
--------------------------------------------------------------------------------

- Gross proceeds ~$2.4M from 418,845 shares at $5.73 and warrants exercisable at $5.60; closing expected April 30, 2024.
- Maxim Group LLC acting as placement agent with 8% fee; 30-day lock-up on share issuance, 6-month ban on variable rate deals.
- Special meeting on May 13, 2024 seeks approval for reverse split, bylaw amendment, and issuance of shares upon warrant exercises.
- Due to April 12 reverse split, existing warrants now exercisable for 7,139,468 shares at $1.83, subject to stockholder approval.
- Shareholder letter introduces 'Propel' program focusing on WiSA E licensing, revenue growth, and path to profitability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465924052756/0001104659-24-052756-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465924052756/tm2412837d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-052756

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