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 the Certificate of Incorporation to allow the Board to amend the company's bylaws without stockholder approval, and the approval of the issuance of over 20% of outstanding shares upon exercise of common stock purchase warrants dated February and March 2024. The reverse stock split proposal aims to amend the Certificate of Incorporation to effect a reverse stock split by a ratio ranging from one-for-five to one-for-one hundred and fifty, at the Board's discretion, to comply with Nasdaq...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 the Certificate of Incorporation to allow the Board to amend the company's bylaws without stockholder approval, and the approval of the issuance of over 20% of outstanding shares upon exercise of common stock purchase warrants dated February and March 2024. The reverse stock split proposal aims to amend the Certificate of Incorporation to effect a reverse stock split by a ratio ranging from one-for-five to one-for-one hundred and fifty, at the Board's discretion, to comply with Nasdaq's minimum bid price requirement. The Bylaws Amendment Proposal seeks to give the Board the flexibility to amend the bylaws as necessary without stockholder approval. The First and Second Nasdaq Proposals require stockholder approval for the issuance of shares upon exercise of warrants issued in February and March 2024, as the issuance may result in more than 20% of outstanding shares being offered, which is subject to Nasdaq's Rule 5635(d). The meeting will also address any other business that may properly come before the Special Meeting or any adjournment thereof.