Datavault AI to raise $150M in Bitcoin via sale of 15M shares and pre-funded warrant to Scilex Holding

Datavault AI Inc.

$150M aggregate purchase in Bitcoin; initial closing of 15M shares at $0.5378/share expected Sept 26, 2025.
Pre-funded warrant for ~263.9M shares at $0.0001/share, exercisable immediately, contingent on stockholder approval for 1.5B authorized shares.
Purchaser Scilex gets board seats: two directors if owning ≥10% of shares, one if ≥5%.
Directors, officers locked up until additional closing; company cannot sell Bitcoin received until then.
Voting agreements from holders of 38M shares to support stockholder approval and charter amendment.

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