Summary by Moomoo AI
WiSA Technologies, known previously as Summit Wireless Technologies, has undergone a series of warrant issuances and inducements throughout 2023, aimed at raising capital and incentivizing investment. In March and April 2023, the company issued Common Stock purchase warrants for over 3 million shares at exercise prices of $1.91 and $1.41 respectively. Subsequent inducement agreements in May and July led to the exercise of warrants resulting in gross proceeds of approximately $2.1 million and $678,000. The July Inducement Warrants, exercisable for 510,000 shares at $1.29 per share, are set to expire five years from issuance. In December, WiSA entered into agreements to reduce the exercise price of Series B Convertible Preferred Stock purchase warrants, potentially generating up to $6 million in gross proceeds if all warrants are exercised. As of February...Show More