WiSA Technologies Closed $7.6 Million IPO

IPO

by

WiSA Technologies, Inc. (Nasdaq: WISA), a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, today announced the completion of its previously announced public offering of 50,400,000 units and 3,600,000 pre-funded units at a price of $0.14 per unit.

Each unit consists of-

(i) one share of common stock

(ii) one Series A Warrant to purchase one share of common stock, exercisable immediately at $0.14 per share and expiring five years from the date of issuance, and

(iii) one Series B Warrant to purchase one share of common stock, exercisable immediately at $0.14 per share and expiring five years from the date of issuance.

Before subtracting the placement agent’s fees and other offering charges, the gross proceeds from the offering are roughly $7.6 million.

Maxim Group LLC served as the offering’s sole placement agent.

The securities described above were issued in accordance with a registration statement on Form S-1, as amended (File No. 333-268085), which the Securities and Exchange Commission (the “SEC”) declared effective on November 29, 2022. Only a prospectus, which is part of the valid registration statement, was used to make the offering. Copies of the final prospectus pertaining to this offering were filed with the SEC and can be acquired by contacting Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, or by calling (212) 895-3745.

WiSA Technologies (Nasdaq: WISA) develops, markets, and sells spatial audio wireless technology for smart devices and next-generation home entertainment systems. Its consortium—the WiSA Association—works with leading consumer electronics companies, technology providers, retailers, and industry partners to make spatial audio an experience that everyone can enjoy. The Company is headquartered in Beaverton, OR.

Related Stories

Latest News Stories

Discover more from Silicon Valley Journals

Subscribe now to keep reading and get access to the full archive.

Continue reading