Datavault AI raises $12M net via $13.3M senior secured convertible note offering

Datavault AI Inc.

Initial closing of $6.0M net (principal $6,666,666, 10% OID) expected August 5, 2025.
Additional $6.0M net contingent on stockholder approval; conversion price $1.00/share with alternate conversion at 80% of 20-day VWAP (floor $0.1019).
Also exchanged ~31M warrants for common shares subject to stockholder approval.
Notes are senior secured, mature after 18 months, no interest unless default (then 12%).
Company must use up to 20% of future financing proceeds to redeem notes at 105% of principal.

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