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WiSA Technologies | 8-K: Current report

SEC announcement ·  Apr 10 04:27
Summary by Futu AI
WiSA Technologies, Inc., a leader in wireless audio technology, announced on April 9, 2024, that it has received approval from the Nasdaq Hearings Panel to continue its listing on the Nasdaq Capital Market. This approval is contingent on the company demonstrating compliance with specific Nasdaq Listing Rules, including a minimum bid price of $1 per share by April 28, 2024, and attaining stockholders' equity of at least $2.5 million by June 28, 2024. To address the minimum bid price requirement, WiSA Technologies plans to execute a one-for-one hundred and fifty reverse stock split on April 12, 2024, with the change taking effect in the market on April 15, 2024. The company aims to increase its per-share trading price through this reverse stock split to maintain its Nasdaq listing. Additional details regarding the reverse stock split will be released in a forthcoming press release. WiSA Technologies is known for its collaboration with major consumer electronics brands to deliver high-definition wireless audio experiences and is a founding member of the WiSA Association, which sets industry standards for wireless audio interoperability.
WiSA Technologies, Inc., a leader in wireless audio technology, announced on April 9, 2024, that it has received approval from the Nasdaq Hearings Panel to continue its listing on the Nasdaq Capital Market. This approval is contingent on the company demonstrating compliance with specific Nasdaq Listing Rules, including a minimum bid price of $1 per share by April 28, 2024, and attaining stockholders' equity of at least $2.5 million by June 28, 2024. To address the minimum bid price requirement, WiSA Technologies plans to execute a one-for-one hundred and fifty reverse stock split on April 12, 2024, with the change taking effect in the market on April 15, 2024. The company aims to increase its per-share trading price through this reverse stock split to maintain its Nasdaq listing. Additional details regarding the reverse stock split will be released in a forthcoming press release. WiSA Technologies is known for its collaboration with major consumer electronics brands to deliver high-definition wireless audio experiences and is a founding member of the WiSA Association, which sets industry standards for wireless audio interoperability.
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