Summary by Futu AI
WiSA Technologies, Inc., a Delaware-based company, filed a Form S-3 registration statement with the U.S. Securities and Exchange Commission (SEC) on April 11, 2024. The registration pertains to the potential sale of up to 52,274,894 shares of common stock, which may be issued upon the exercise of certain common stock purchase warrants. These warrants were previously issued to holders between December 2023 and February 2024, under inducement agreements and securities purchase agreements. The warrants have an exercise price initially set at $0.1482 per share, subject to adjustments. WiSA Technologies will not receive proceeds from the sale of shares by the warrant holders but may receive up to approximately $1,568,247 in gross proceeds if all warrants are exercised for cash at the current exercise price of...Show More