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WiSA Technologies | 8-K: Current report

SEC announcement ·  Apr 20 03:45
Summary by Futu AI
On April 19, 2024, WiSA Technologies, Inc. completed a securities transaction involving the sale of 225,834 shares of common stock at $3.321 per share and concurrent issuance of warrants exercisable for an equal number of shares at $3.196 per share, resulting in gross proceeds of $750,000. These transactions were conducted under a previously filed shelf registration statement. Additionally, WiSA Technologies announced a second offering on the same day, agreeing to sell 361,904 shares at $5.250 per share and warrants for 542,856 shares at $5.06 per share, with expected gross proceeds of approximately $1.9 million, set to close on April 23, 2024, subject to customary conditions. The company has committed to filing a registration statement for the resale of the Second Transaction Warrant Shares and to hold a stockholder meeting by September 30, 2024, to approve the 'alternative cashless exercise' feature of the warrants. WiSA Technologies has also entered into an agreement with Maxim Group LLC, who will act as the placement agent for the second offering, with an 8.0% fee on gross proceeds and a reimbursement of $50,000 for expenses.
On April 19, 2024, WiSA Technologies, Inc. completed a securities transaction involving the sale of 225,834 shares of common stock at $3.321 per share and concurrent issuance of warrants exercisable for an equal number of shares at $3.196 per share, resulting in gross proceeds of $750,000. These transactions were conducted under a previously filed shelf registration statement. Additionally, WiSA Technologies announced a second offering on the same day, agreeing to sell 361,904 shares at $5.250 per share and warrants for 542,856 shares at $5.06 per share, with expected gross proceeds of approximately $1.9 million, set to close on April 23, 2024, subject to customary conditions. The company has committed to filing a registration statement for the resale of the Second Transaction Warrant Shares and to hold a stockholder meeting by September 30, 2024, to approve the 'alternative cashless exercise' feature of the warrants. WiSA Technologies has also entered into an agreement with Maxim Group LLC, who will act as the placement agent for the second offering, with an 8.0% fee on gross proceeds and a reimbursement of $50,000 for expenses.
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