secwatch.observer — SEC 8-K summary
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Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001104659-24-062010
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WiSA raises ~$2.6M in registered direct offering and warrant placement
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- Sold 785,000 shares at $3.31/share and warrants for 785,000 shares at $3.18/share.
- Warrants are exercisable immediately for 5 years; alternative cashless exercise requires stockholder approval by Sept 30, 2024.
- Maxim Group LLC served as placement agent with 8% fee ($208K) plus $50K expense reimbursement.
- Company agreed to 30-day lock-up on share issuances and 6-month ban on variable rate transactions, with Nasdaq listing exception.
- Resale registration statement for warrant shares must be filed by May 30, 2024 and kept effective.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465924062010/0001104659-24-062010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465924062010/tm2414523d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-062010

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