Datavault AI Inc 8-K, filed Oct 16, 2023
Datavault AI Inc. (DVLT)
About this 8-K
Datavault AI Inc filed this 8-K on October 16, 2023.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Information.
As previously disclosed, WiSA Technologies, Inc. (the “Company”) is pursuing a potential strategic transaction that the Company believes will create additional value for its stockholders. Such transaction may include an acquisition, sale of assets, including substantially all of the Company’s assets, as well as a merger, business combination, partnership, joint venture, licensing and/or other strategic alternative.
In furtherance thereof, Company is exploring opportunities to strengthen its capital structure, and is currently engaging in communications with the holders of its existing common stock purchase warrants to repurchase such warrants, using gross proceeds in excess of $2.5 million from the closing of its next financing.
As of the filing of this Current Report on Form 8-K (this “Current Report”), the Company has not reached an agreement with such holders regarding any warrant repurchase or the terms thereof.
This Current Report on Form 8-K contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including among others, statements concerning the proposed strategic transaction and the creation of additional stockholder value therefrom, as well as the Company’s exploration of opportunities to strengthen its capital structure and the future, proposed warrant repurchase transaction. The Company’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements as a result of a number of risks and uncertainties, including, but not limited to, risks related to the Company’s ability to identify and/or consummate a future strategic transaction and the Company’s ability to reach an agreement with holders of its existing warrants to repurchase such warrants, as well as risks related to the Company’s business, generally, including the Company’s current liquidity position, the need to obtain additional financing to support the Company’s ongoing operations, the Company’s ability to predict the timing of design wins entering production and the potential future revenue associated with design wins, the Company’s rate of growth, the Company’s ability to predict direct and indirect customer demand for our existing and future products and to secure adequate manufacturing capacity, the Company’s ability to hire, retain and motivate employees, the effects of competition, including price competition within the Company’s industry segment, technological, regulatory and legal developments that uniquely or disproportionately impact the Company’s industry segment, developments in the economy and financial markets, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 16, 2023 | WISA TECHNOLOGIES, INC. | ||
| By: | /s/ Brett Moyer | ||
| Name: | Brett Moyer | ||
| Title: | Chief Executive Officer | ||