WISA TECHNOLOGIES Files 8-K: Material Agreement & Equity Sales

TL;DR

WISA filed an 8-K detailing a material agreement and equity sales. Keep an eye on this.

AI Summary

On April 17, 2024, WISA TECHNOLOGIES, INC. entered into a Material Definitive Agreement, the details of which are not fully disclosed in this filing. The company also reported on unregistered sales of equity securities and other events. This filing also includes financial statements and exhibits.

Why It Matters

This filing indicates significant corporate activity, including a material agreement and equity transactions, which could impact the company's financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing mentions a material definitive agreement and unregistered sales of equity, which can introduce financial and operational risks if not managed properly.

Key Players & Entities

• WISA TECHNOLOGIES, INC. (company) — Registrant
• April 17, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — h registered Common Stock, par value $0.0001 per share WISA The Nasdaq Capital M
• $3.321 — of the Company, at an offering price of $3.321 per share, and (b) in a concurrent priv
• $3.196 — f Common Stock, at an exercise price of $3.196 per share (the "Warrant Shares"), for a
• $750,000 — gregate gross proceeds of approximately $750,000 (such offerings, the "Offerings"). The
• $10,000 — Company reimbursed the Placement Agent $10,000 for expenses in connection with the Off

Filing Documents

• tm2412142d1_8k.htm (8-K) — 35KB
• tm2412142d1_ex1-1.htm (EX-1.1) — 96KB
• tm2412142d1_ex4-1.htm (EX-4.1) — 101KB
• tm2412142d1_ex10-1.htm (EX-10.1) — 241KB
• tm2412142d1_ex99-1.htm (EX-99.1) — 12KB
• image_001.jpg (GRAPHIC) — 3KB
• 0001104659-24-048633.txt ( ) — 784KB
• wisa-20240417.xsd (EX-101.SCH) — 3KB
• wisa-20240417_lab.xml (EX-101.LAB) — 33KB
• wisa-20240417_pre.xml (EX-101.PRE) — 22KB
• tm2412142d1_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On April 17, 2024, WiSA Technologies, Inc., a Delaware corporation (the "Company"), entered into a securities purchase agreement (the "Purchase Agreement") with certain purchasers, pursuant to which the Company agreed to issue and sell to such purchasers (a) in a registered direct offering, 225,834 shares (the "Shares") of common stock, par value $0.0001 per share (the "Common Stock"), of the Company, at an offering price of $3.321 per share, and (b) in a concurrent private placement, common stock purchase warrants (the "Warrants") exercisable for an aggregate of up to 225,834 shares of Common Stock, at an exercise price of $3.196 per share (the "Warrant Shares"), for aggregate gross proceeds of approximately $750,000 (such offerings, the "Offerings"). The Offerings are expected to close on April 19, 2024, subject to customary closing conditions. Private Placement Warrants The Warrants will be exercisable upon issuance and expire on the fifth anniversary of the issuance date of the Warrants. Once issued, the Warrants may be exercised, in certain circumstances, on a cashless basis pursuant to the formula contained in the Warrants. The holder of a Warrant may also effect an "alternative cashless exercise" on or after the initial exercise date. In such event, the aggregate number of shares of Common Stock issuable in such alternative cashless exercise pursuant to any given notice of exercise electing to effect an alternative cashless exercise shall equal the product of (x) the aggregate number of shares of Common Stock that would be issuable upon exercise of the Warrant in accordance with the terms of the Warrant if such exercise were by means of a cash exercise rather than a cashless exercise and (y) 0.65. Obligations under the Purchase Agreement Pursuant to the Purchase Agreement, the Company agreed to, among other things: (a)

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. The applicable information set forth in Item 1.01 of this Form 8-K with respect to the Warrants and Warrant Shares to be issued pursuant to the Purchase Agreement is incorporated herein by reference.

01. Other Events

Item 8.01. Other Events. On April 18, 2024, the Company issued a press release announcing its 5th WiSA E license to a multi-billion dollar revenue company. The agreement includes engineering services and royalty fees for use of the Company's technology. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 1.1* Placement Agency Agreement, dated as of April 17, 2024, by and between the Company and the Placement Agent. 4.1* Form of Warrant. 10.1* Form of Securities Purchase Agreement, dated as of April 17, 2024, by and among the Company and certain purchasers. 99.1* Press release, dated April 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Filed herewith

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 18, 2024 WISA TECHNOLOGIES, INC. By: /s/ Brett Moyer Name: Brett Moyer Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR