share_log

WiSA Technologies | 8-K: Current report

SEC announcement ·  Mar 27 16:35
Summary by Moomoo AI
On March 26, 2024, WiSA Technologies, Inc., a Delaware corporation, announced the entry into a securities purchase agreement with certain purchasers. In this agreement, WiSA Technologies issued and sold 62,675,000 shares of common stock and pre-funded warrants to purchase up to 14,001,478 shares of common stock, alongside warrants exercisable for up to 76,676,478 shares of common stock in a private placement. The offerings, which closed on March 27, 2024, resulted in aggregate gross proceeds of approximately $2.3 million. The warrants from the private placement will become exercisable upon stockholder approval and will expire five years from that date. The company has agreed to file a registration statement for the resale of the Warrant Shares within 45 days of the Purchase Agreement and to keep it effective until all...Show More
On March 26, 2024, WiSA Technologies, Inc., a Delaware corporation, announced the entry into a securities purchase agreement with certain purchasers. In this agreement, WiSA Technologies issued and sold 62,675,000 shares of common stock and pre-funded warrants to purchase up to 14,001,478 shares of common stock, alongside warrants exercisable for up to 76,676,478 shares of common stock in a private placement. The offerings, which closed on March 27, 2024, resulted in aggregate gross proceeds of approximately $2.3 million. The warrants from the private placement will become exercisable upon stockholder approval and will expire five years from that date. The company has agreed to file a registration statement for the resale of the Warrant Shares within 45 days of the Purchase Agreement and to keep it effective until all purchasers no longer own any Warrants or Warrant Shares. Additionally, WiSA Technologies entered into a placement agency agreement with Maxim Group LLC, which acted as the placement agent for the offerings. The company paid an 8.0% fee of the gross proceeds to Maxim Group LLC and reimbursed $50,000 for expenses. The shares and pre-funded warrants were offered under the company's existing registration statement, while the warrants and the shares issuable upon their exercise were offered in a private placement exempt from registration under the Securities Act. WiSA Technologies also issued a press release on March 26, 2024, announcing the pricing of the offerings.

This announcement is a separate document:

Doc 1

Doc 2

Doc 3

Doc 4

Doc 5

Doc 6

Doc 7

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more