On April 17, 2024, WiSA Technologies, Inc., a Delaware corporation, announced the entry into a securities purchase agreement with certain purchasers. The agreement includes a registered direct offering of 225,834 shares of common stock at $3.321 per share and a concurrent private placement of common stock purchase warrants exercisable for up to 225,834 shares at $3.196 per share, aiming for aggregate gross proceeds of approximately $750,000. The offerings are expected to close on April 19, 2024, subject to standard closing conditions. The warrants will be immediately exercisable and will expire five years from the issuance date. WiSA Technologies 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 constitute a Variable...Show More

On April 17, 2024, WiSA Technologies, Inc., a Delaware corporation, announced the entry into a securities purchase agreement with certain purchasers. The agreement includes a registered direct offering of 225,834 shares of common stock at $3.321 per share and a concurrent private placement of common stock purchase warrants exercisable for up to 225,834 shares at $3.196 per share, aiming for aggregate gross proceeds of approximately $750,000. The offerings are expected to close on April 19, 2024, subject to standard closing conditions. The warrants will be immediately exercisable and will expire five years from the issuance date. WiSA Technologies 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 constitute a Variable Rate Transaction. Additionally, the company will file a registration statement for the resale of the Warrant Shares by May 10, 2024, and ensure it becomes effective within 90 days of the offering's closing. In connection with the offerings, WiSA Technologies entered into a placement agency agreement with Maxim Group LLC, which will receive a 6.0% fee on the gross proceeds. On April 18, 2024, WiSA Technologies also announced the signing of its 5th WiSA E licensing agreement with a leading consumer electronics company, which includes engineering services and royalty fees for the use of WiSA's technology. The licensee will embed WiSA E’s audio functionality into their devices, allowing end users to activate the feature by purchasing compatible speakers. This licensing deal is expected to generate revenue through royalty payments and is a significant shift towards a software model for the company. The production of devices under this agreement is anticipated for the second half of 2024.