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

Issuer:     Datavault AI Inc. (DVLT)
CIK:        0001682149
Form:       8-K
Filed at:   2025-09-26T23:59:59+00:00
Accession:  0001104659-25-093831
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925093831/0001104659-25-093831-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682149/000110465925093831/tm2526979d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-093831

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