secwatch.observer — SEC 8-K summary
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Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2025-04-04T23:59:59+00:00
Accession:  0001104659-25-032260
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Datavault AI closes $5M initial tranche of $15M secured convertible note offering with warrants
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- Issued $5.56M principal senior secured convertible notes (10% OID) for $5M net proceeds; convertible at $1.00/share, floor $0.1794.
- Additional $11.11M notes ($10M purchase price) conditional on stockholder approval; total potential $16.67M principal.
- Warrants to purchase up to 19.3M shares at $0.8615, exercisable upon stockholder approval; 5-year term.
- Notes mature 18 months, no interest unless default (12% then); secured by all assets with subsidiary guarantee.
- Placement agent Maxim Group LLC receives 8% fee and exclusive right of first refusal for 30 days from Aug 22, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925032260/0001104659-25-032260-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925032260/tm2511578d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-032260

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