WiSA raises $2.4M via registered direct offering and private placement warrants

Datavault AI Inc.

Sold 675,000 shares at $3.61/share and warrants for 675,000 shares at $3.48 exercise price.
Gross proceeds of approximately $2.4 million; warrants exercisable immediately for 5 years.
Company agrees to file resale registration statement by June 14, 2024 and hold shareholder meeting by Sep 30, 2024.
Lock-up on share issuance for 30 days; no variable rate transactions for 6 months unless needed for Nasdaq compliance.

item 1.01 item 3.02 item 9.01

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 (effective 2024-05-15).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Effective: 2024-05-15

Exact text from the filing

In connection with the Offerings, on May 15, 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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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Datavault AI Inc. entered into Purchase Agreement with the purchasers signatory thereto valued at approximately $2.4 million (effective 2024-05-15).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers signatory thereto
Value: approximately $2.4 million
Effective: 2024-05-15

Exact text from the filing

On May 17, 2024, WiSA Technologies, Inc. (the “Company”) closed (the “Closing”) the offerings (the “Offerings”) pursuant to that certain securities purchase agreement dated May 15, 2024 (the “Purchase Agreement”) by and among the Company and the purchasers signatory thereto (the “Purchasers”).

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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 0001104659-24-062986

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