Summary by Futu AI
WiSA Technologies, Inc. (WiSA), a leading technology company, has announced the offering of 361,904 shares of its common stock at a purchase price of $5.25 per share. The offering is being conducted through Maxim Group LLC, acting as the exclusive placement agent. The shares are expected to be delivered on or about April 23, 2024, subject to customary closing conditions. Concurrently with the common stock offering, WiSA is also selling private placement warrants to purchase additional shares of common stock at an exercise price of $5.06 per share. The private placement warrants are immediately exercisable and will expire five years from the issuance date. The net proceeds from the offering, estimated at approximately $1,623,000 after deducting placement agent fees and other estimated offering expenses, are intended for working capital and other general corporate purposes, including investments in sales and marketing both domestically and internationally. The common stock is listed on the Nasdaq Capital Market under the symbol 'WISA.'