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

TL;DR

WISA TECHNOLOGIES filed an 8-K on 12/20/24 for a material agreement and equity sales.

AI Summary

On December 20, 2024, WISA TECHNOLOGIES, INC. filed an 8-K report detailing a material definitive agreement. The filing also covers unregistered sales of equity securities and includes financial statements and exhibits. The company, formerly known as Summit Wireless Technologies, Inc., is based in Beaverton, Oregon.

Why It Matters

This 8-K filing indicates significant corporate activity, including a new material agreement and equity transactions, which could impact the company's financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.

Key Players & Entities

• WISA TECHNOLOGIES, INC. (company) — Registrant
• Summit Wireless Technologies, Inc. (company) — Former company name
• Summit Semiconductor Inc. (company) — Former company name
• December 20, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.0001 — h registered Common Stock, par value $0.0001 per share WISA The Nasdaq Capital M
• $1.70 — Holder at a per share exercise price of $1.70 on or prior to December 31, 2024, to is
• $2.9 m — gregate gross proceeds of approximately $2.9 million, before deducting financial advis

Filing Documents

• tm2431713d1_8k.htm (8-K) — 34KB
• tm2431713d1_ex4-1.htm (EX-4.1) — 98KB
• tm2431713d1_ex10-1.htm (EX-10.1) — 14KB
• tm2431713d1_ex10-2.htm (EX-10.2) — 42KB
• 0001104659-24-130808.txt ( ) — 403KB
• wisa-20241220.xsd (EX-101.SCH) — 3KB
• wisa-20241220_lab.xml (EX-101.LAB) — 33KB
• wisa-20241220_pre.xml (EX-101.PRE) — 22KB
• tm2431713d1_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement . Amendment to Inducement Agreements As previously disclosed, on September 10, 2024, WiSA Technologies, Inc., a Delaware corporation (the "Company"), entered into an inducement agreement with each of the holders (the "Holders") of certain common stock purchase warrants ("Exchange Warrants") issued by the Company to the Holders pursuant to certain exchange agreements, dated as of September 10, 2024, by and between the Company and each Holder. Each such inducement agreement was amended as of September 30, 2024, for a second time as of October 31, 2024 and for a third time as of November 30, 2024 (as amended, collectively, the "September Inducement Agreements"). Pursuant to the September Inducement Agreements, the Company agreed, as consideration for exercising all or part of the Exchange Warrants held by any Holder on or prior to December 31, 2024 (the "Inducement Period"), to issue to such Holder one or more common stock purchase warrants exercisable for up to a number of shares of Common Stock equal to 65% of the number of shares of Common Stock issued upon exercise of the Exchange Warrants. On December 20, 2024, the Company entered into a fourth amendment agreement (collectively, the "Amendments") with each of the Holders to extend the expiration date of the Inducement Period to January 31, 2025. The foregoing summary of the Amendments does not purport to be complete and is qualified in its entirety by reference to the full text of the form of the Amendments, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. December Inducement Agreements As previously disclosed, on March 26, 2024, the Company, entered into a securities purchase agreement (the "Purchase Agreement") with certain purchasers (the "Existing Warrant Holders"), pursuant to which the Company issued and sold to the Existing Warrant Holders common stock purchase warrants (the "Existing Warrants") exercisab

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The disclosure required by this Item and included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Form of Inducement Warrant. 10.1 Form of Fourth Amendment to September Inducement Agreement, dated December 20, 2024, between the Company and each Holder. 10.2 Form of December Inducement Agreement, dated December 20, 2024, by and between the Company and each Existing Warrant Holder. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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: December 20, 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