WiSA Technologies, Inc., a Delaware corporation, has announced a special meeting of stockholders to be held on May 13, 2024. The meeting will address several key proposals, including a reverse stock split of the company's common stock, an amendment to allow the Board to amend the company's bylaws without stockholder approval, and the approval of the issuance of common stock upon exercise of warrants dated February and March 2024. The reverse stock split proposal, if approved, would authorize the Board to amend the Certificate of Incorporation to effect a reverse stock split at a ratio between one-for-five and one-for-one hundred and fifty, at the Board's discretion, within one year of approval. The bylaws amendment proposal would...Show More

WiSA Technologies, Inc., a Delaware corporation, has announced a special meeting of stockholders to be held on May 13, 2024. The meeting will address several key proposals, including a reverse stock split of the company's common stock, an amendment to allow the Board to amend the company's bylaws without stockholder approval, and the approval of the issuance of common stock upon exercise of warrants dated February and March 2024. The reverse stock split proposal, if approved, would authorize the Board to amend the Certificate of Incorporation to effect a reverse stock split at a ratio between one-for-five and one-for-one hundred and fifty, at the Board's discretion, within one year of approval. The bylaws amendment proposal would enable the Board to amend the bylaws without stockholder approval, providing flexibility to make necessary changes. The first Nasdaq proposal seeks approval for the issuance of common stock upon exercise of the February 2024 warrants, while the second Nasdaq proposal pertains to the March 2024 warrants. Both warrant exercises are subject to Nasdaq's minimum bid price requirement and stockholder approval is required for the issuance of shares amounting to 20% or more of the outstanding common stock. The meeting will also address any other business that may properly come before it.