Datavault AI secures $12M convertible note financing; stockholders approve share issuances

Datavault AI Inc.

Senior secured convertible notes with aggregate principal of $13.3M issued for $12M; initial conversion price $1.00/share, floor $0.1019.
Warrants to purchase ~31M shares exchanged for equivalent common shares, subject to stockholder approval.
Stockholder written consent (52% voting power) approved up to 130.8M shares for conversion, exchange, and prior note amendment.
Amendment to prior notes (April/May 2025) lowers Alternate Conversion price from 90% to 80% of lowest VWAP over 20 days.
Closings conditioned on stockholder approval; information statement to be mailed before effectiveness.

item 5.07

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