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NEWS
WiSA Technologies' Stockholders Overwhelmingly Approve Purchase of Data Vault Holdings' Assets
Monday, 23rd December at 8:15 am
- Fairness opinion valued Data Vault's assets between $266M and $501M -
- 40 million shares of WiSA common stock to be issued at closing of the transaction plus a $10 million 3-year Note -
- Creates licensing and technology company with extensive patent portfolio for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, and energy
WiSA Technologies, Inc. ("WiSA Technologies") (NASDAQ: WISA), has received stockholder approval to purchase the Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® for 40 million shares of common stock of WiSA Technologies to be issued at closing of the transaction plus a $10 million 3-year Note. 94% of stockholders present or represented by proxy at the meeting voted in favor of the transaction. Closing remains subject to customary conditions and is expected to be completed on or about December 31, 2024.
Upon closing, WiSA Technologies will change its name to Datavault Inc. and will become a data technology and licensing company that enables clients and strategic partners to monetize their Blockchain Data and AI Web 3.0 assets via tokenization, data ownership and digital twins offering two primary solutions:
Data Sciences will license High Performance Computing (HPC) software applications and Web 3.0 data management serving the biotech research, energy, education, fintech, real estate, and healthcare industries, among others.
Acoustic Sciences will license spatial and multichannel HD sound transmission, including proprietary brands ADIO®, WiSA® and Sumerian®, to customers in sports & entertainment, events & venues, restaurants, automotive, finance, and other industries.
Monday, 23rd December at 8:15 am
- Fairness opinion valued Data Vault's assets between $266M and $501M -
- 40 million shares of WiSA common stock to be issued at closing of the transaction plus a $10 million 3-year Note -
- Creates licensing and technology company with extensive patent portfolio for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, and energy
WiSA Technologies, Inc. ("WiSA Technologies") (NASDAQ: WISA), has received stockholder approval to purchase the Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® for 40 million shares of common stock of WiSA Technologies to be issued at closing of the transaction plus a $10 million 3-year Note. 94% of stockholders present or represented by proxy at the meeting voted in favor of the transaction. Closing remains subject to customary conditions and is expected to be completed on or about December 31, 2024.
Upon closing, WiSA Technologies will change its name to Datavault Inc. and will become a data technology and licensing company that enables clients and strategic partners to monetize their Blockchain Data and AI Web 3.0 assets via tokenization, data ownership and digital twins offering two primary solutions:
Data Sciences will license High Performance Computing (HPC) software applications and Web 3.0 data management serving the biotech research, energy, education, fintech, real estate, and healthcare industries, among others.
Acoustic Sciences will license spatial and multichannel HD sound transmission, including proprietary brands ADIO®, WiSA® and Sumerian®, to customers in sports & entertainment, events & venues, restaurants, automotive, finance, and other industries.
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