Summary by Moomoo AI
WiSA Technologies, Inc. has announced the offering of 225,834 shares of its common stock at a purchase price of $3.321 per share. The offering is being conducted through Maxim Group LLC, acting as the exclusive placement agent. The shares are being offered pursuant to a prospectus supplement and the accompanying prospectus under WiSA's existing shelf registration. In conjunction with the common stock offering, WiSA is also offering private placement warrants to purchase additional shares of common stock at an exercise price of $3.196 per share. The private placement warrants are exercisable immediately and will expire five years from the issuance date. The common stock is listed on the Nasdaq Capital Market under the symbol 'WISA.' The offering is expected to close on or about April 19, 2024, subject to customary closing conditions. WiSA intends to use the net proceeds from the offering for working capital and other general corporate purposes, including investments in sales and marketing. The offering follows a series of financial activities by WiSA, including previous offerings and warrant inducements.
