Summary by Futu AI
WiSA Technologies, Inc. announced on April 26, 2024, that it has entered into a securities purchase agreement for a registered direct offering and concurrent private placement. The company will issue 418,845 shares of common stock at $5.73 per share and warrants exercisable for an equal number of shares at $5.60 per share, aiming to raise approximately $2.4 million. The offerings are expected to close on April 30, 2024, with customary closing conditions. The warrants will be immediately exercisable and expire five years from the issuance date. WiSA Technologies has agreed to certain conditions, including a 30-day restriction on the sale of its common stock post-offering and a six-month ban on issuing securities that would result in a Variable Rate Transaction. Additionally, the company will file a...Show More