Summary by Futu AI
WiSA Technologies, Inc., a Delaware corporation, has reported a series of financial activities in a Form 8-K filed with the SEC on April 23, 2024. The company amended the terms of certain common stock purchase warrants on April 19, 2024, to require stockholder approval for the issuance of shares upon 'alternative cashless exercise'. Additionally, WiSA Technologies closed a registered direct offering and concurrent private placement on April 23, 2024, resulting in the sale of 361,904 shares of common stock at $5.25 per share and the issuance of warrants exercisable for up to 542,856 shares at $5.06 per share. This resulted in aggregate gross proceeds of approximately $1.9 million. The shares were offered under a shelf registration statement filed with the SEC, while the warrants and warrant shares were offered under an exemption from registration requirements. In connection with these offerings, WiSA Technologies entered into a placement agency agreement with Maxim Group LLC, which received an 8% fee on the gross proceeds. Legal counsel Sullivan & Worcester LLP provided an opinion on the validity of the shares issued.