secwatch.observer — SEC 8-K summary
======================================

Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2025-08-04T23:59:59+00:00
Accession:  0001104659-25-073703
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 raises $12M net via $13.3M senior secured convertible note offering
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925073703/0001104659-25-073703-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925073703/tm2522493d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-073703

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