On May 17, 2024, WiSA Technologies, Inc. successfully closed its securities offerings, raising approximately $2.4 million through the sale of 675,000 shares of common stock and concurrent private placement of warrants. The shares were sold at $3.61 each, while the warrants, exercisable for an equal number of shares, have an exercise price of $3.48 per share. The offerings were made under a previously filed and effective shelf registration statement. The warrants are immediately exercisable and expire five years from the issuance date, with provisions for cashless exercise subject to stockholder approval. WiSA Technologies has agreed to certain restrictions on the sale of its common stock post-offering and committed to filing a registration statement for the resale of the warrant shares. Additionally, the company has amended the filing deadline for a registration statement related to previous private placement transactions. Maxim Group LLC acted as the placement agent for the offerings, receiving an 8% fee on the gross proceeds and a reimbursement for expenses. Legal counsel Sullivan & Worcester LLP provided an opinion on the validity of the shares issued.

On May 17, 2024, WiSA Technologies, Inc. successfully closed its securities offerings, raising approximately $2.4 million through the sale of 675,000 shares of common stock and concurrent private placement of warrants. The shares were sold at $3.61 each, while the warrants, exercisable for an equal number of shares, have an exercise price of $3.48 per share. The offerings were made under a previously filed and effective shelf registration statement. The warrants are immediately exercisable and expire five years from the issuance date, with provisions for cashless exercise subject to stockholder approval. WiSA Technologies has agreed to certain restrictions on the sale of its common stock post-offering and committed to filing a registration statement for the resale of the warrant shares. Additionally, the company has amended the filing deadline for a registration statement related to previous private placement transactions. Maxim Group LLC acted as the placement agent for the offerings, receiving an 8% fee on the gross proceeds and a reimbursement for expenses. Legal counsel Sullivan & Worcester LLP provided an opinion on the validity of the shares issued.