Datavault AI Inc. (DVLT): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Datavault AI Inc. incurred convertible notes of $2,000,000 with the Sellers at ten percent (10%) per annum maturing second anniversary of the Closing.

Instrument: convertible notes
Principal: $2,000,000
Counterparty: the Sellers
Rate: ten percent (10%) per annum
Maturity: second anniversary of the Closing
Event: incurrence

Exact text from the filing

an amount in cash equal to $6,000,000, (ii) 5,117,188 shares of common stock of the Company, par value $0.001 per share (the “Common Stock”), and (iii) $2,000,000 payable in the aggregate in the form of convertible promissory notes by the Company to the Sellers (the “Notes”).

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Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-068671

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