On May 15, 2024, WiSA Technologies, Inc. entered into a securities purchase agreement with certain purchasers to issue 675,000 shares of common stock at $3.61 per share and concurrent private placement common stock purchase warrants exercisable for up to 675,000 shares at $3.48 per share. The combined offerings are expected to generate approximately $2.437 million in gross proceeds and are anticipated to close on May 17, 2024, subject to standard closing conditions. The warrants will be immediately exercisable and will expire five years from the issuance date. The company has agreed to certain conditions, including a 30-day restriction on the sale of its common stock post-offering and a six-month ban on issuing securities that would result in a Variable Rate Transaction. Additionally, WiSA Technologies will file a...Show More

On May 15, 2024, WiSA Technologies, Inc. entered into a securities purchase agreement with certain purchasers to issue 675,000 shares of common stock at $3.61 per share and concurrent private placement common stock purchase warrants exercisable for up to 675,000 shares at $3.48 per share. The combined offerings are expected to generate approximately $2.437 million in gross proceeds and are anticipated to close on May 17, 2024, subject to standard closing conditions. The warrants will be immediately exercisable and will expire five years from the issuance date. The company has agreed to certain conditions, including a 30-day restriction on the sale of its common stock post-offering and a six-month ban on issuing securities that would result in a Variable Rate Transaction. Additionally, WiSA Technologies will file a registration statement for the resale of the Warrant Shares by June 14, 2024, and will hold a stockholder meeting by September 30, 2024, to approve an 'alternative cashless exercise' feature for the warrants. In connection with the offerings, WiSA Technologies also entered into a placement agency agreement with Maxim Group LLC, which will receive an 8% fee on the gross proceeds and a reimbursement of $50,000 for expenses.