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NEWS
WiSA Technologies Closes Purchase of Data Vault Holdings' Assets and Names Nate Bradley CEO
Tuesday, 7th January at 8:11 am
- Patent protected acoustic and data valuation, visualization and monetization technologies successfully acquired include Web 3.0 Sumerian® crypto anchors, ADIO® advertising network, industry first blockchain and AI enabled Information Data Exchange® -
- WiSA Will Change Name to Datavault Inc. in Mid-January 2025 -
WiSA Technologies, Inc. ("WiSA Technologies", the "Company", or "WiSA") (NASDAQ: WISA), closed its purchase of Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® ("Data Vault Holdings") on December 31, 2024. In conjunction with the closing, WiSA issued 40 million shares of restricted common stock, par value $0.0001 per share (the "Common Stock"), to Data Vault Holdings (the "Closing Stock Consideration"); Nathaniel T. Bradley (Nate) was named CEO and Director; and Brett Moyer assumed a new role as CFO while remaining a director. WiSA Technologies plans to change its name to Datavault Inc. ("Datavault") in mid-January 2025, concurrent with a planned change of its Nasdaq ticker symbol to ADIO. The Company will continue to trade under the Nasdaq ticker symbol WISA until such time as the new ticker symbol is announced.
On December 31, 2024, in connection with Nate Bradley's appointment as the Company's CEO, Mr. Bradley was granted 1,200,000 units of restricted stock of WiSA (the "Units") as an inducement material to Mr. Bradley's entering into employment with WiSA. The Units were approved by the board of directors of the Company and granted outside of the Company's 2020 Stock Incentive Plan and 2018 Long-Term Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4). In connection with the award of Units, Mr. Bradley and the Company have entered into an Inducement Award Agreement for the Units, which agreement contemplates half of the Units vesting in equal 3-month installments over a 36-month period beginning March 20, 2025, and the other half of the Units vesting upon the Company's aggregate revenue equaling or exceeding $40 million over any trailing 12 calendar month period ending on or prior to the date that is 5 years from the grant date.
Tuesday, 7th January at 8:11 am
- Patent protected acoustic and data valuation, visualization and monetization technologies successfully acquired include Web 3.0 Sumerian® crypto anchors, ADIO® advertising network, industry first blockchain and AI enabled Information Data Exchange® -
- WiSA Will Change Name to Datavault Inc. in Mid-January 2025 -
WiSA Technologies, Inc. ("WiSA Technologies", the "Company", or "WiSA") (NASDAQ: WISA), closed its purchase of Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® ("Data Vault Holdings") on December 31, 2024. In conjunction with the closing, WiSA issued 40 million shares of restricted common stock, par value $0.0001 per share (the "Common Stock"), to Data Vault Holdings (the "Closing Stock Consideration"); Nathaniel T. Bradley (Nate) was named CEO and Director; and Brett Moyer assumed a new role as CFO while remaining a director. WiSA Technologies plans to change its name to Datavault Inc. ("Datavault") in mid-January 2025, concurrent with a planned change of its Nasdaq ticker symbol to ADIO. The Company will continue to trade under the Nasdaq ticker symbol WISA until such time as the new ticker symbol is announced.
On December 31, 2024, in connection with Nate Bradley's appointment as the Company's CEO, Mr. Bradley was granted 1,200,000 units of restricted stock of WiSA (the "Units") as an inducement material to Mr. Bradley's entering into employment with WiSA. The Units were approved by the board of directors of the Company and granted outside of the Company's 2020 Stock Incentive Plan and 2018 Long-Term Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4). In connection with the award of Units, Mr. Bradley and the Company have entered into an Inducement Award Agreement for the Units, which agreement contemplates half of the Units vesting in equal 3-month installments over a 36-month period beginning March 20, 2025, and the other half of the Units vesting upon the Company's aggregate revenue equaling or exceeding $40 million over any trailing 12 calendar month period ending on or prior to the date that is 5 years from the grant date.
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