Datavault AI agrees to acquire API Media for $6M cash, 5.1M shares, $2M notes

Datavault AI Inc.

Purchase price: $6M cash, 5,117,188 DVLT shares, and $2M in 10% convertible notes (convertible at $1.14/share in $250K increments).
Closing contingent on Datavault raising at least $10M net proceeds and Sellers signing consulting agreements.
Breakup fee of $1M payable to Sellers if Buyer terminates the agreement improperly.
Transaction expected to close by August 12, 2025; Nasdaq stockholder approval may be required for share issuance.
Sellers David Reese and Frank Tomaino will provide consulting services post-closing.

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