secwatch.observer — SEC 8-K summary
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Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2025-08-12T23:59:59+00:00
Accession:  0001104659-25-076862
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 closes initial $6M tranche of senior secured convertible notes; amends prior notes
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- Initial closing of $6.0M purchase price for $6.67M principal senior secured convertible notes (10% OID) on Aug 6, 2025.
- Additional $6.0M purchase price for $6.67M notes contingent on stockholder approval; warrants for ~31M shares exchanged for common stock.
- Notes convertible at $1.00/share or alternate conversion price at 80% of lowest 20-day VWAP, floor $0.1019; 4.99/9.99% beneficial ownership limits.
- Prior notes (April/May 2025) amended to lower alternate conversion price from 90% of 10-day VWAP to 80% of 20-day VWAP.
- Placement agent Maxim Group LLC received 8% fee; proceeds from the offering used for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925076862/0001104659-25-076862-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925076862/tm2523192d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-076862

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