secwatch.observer — SEC 8-K summary
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Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001104659-24-060435
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.02, 3.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

WiSA Technologies raises ~$2.6M via registered direct offering and reports preliminary Q1 net income of $1.7M-$3.7M
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- Entered securities purchase agreement for registered direct offering of 785,000 shares at $3.31/share and warrants for 785,000 shares at $3.18, gross proceeds ~$2.6M.
- Offering expected to close May 15, 2024; placement agent Maxim Group LLC receives 8% fee.
- Preliminary Q1 2024 net income expected between $1.7M and $3.7M vs net loss of $0.92M in Q1 2023.
- Net income increase driven by change in fair value of warrant liabilities and absence of inventory reserve impact.
- Company to hold stockholder meeting by Sept 30, 2024 to approve alternative cashless exercise feature of warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465924060435/0001104659-24-060435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465924060435/tm2414147d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-060435

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