WISA TECHNOLOGIES, INC. Files 8-K for Material Agreement

TL;DR

WISA TECHNOLOGIES just signed a big deal, filing an 8-K on Dec 30, 2024.

AI Summary

On December 30, 2024, WISA TECHNOLOGIES, INC. entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this event. The company, formerly known as Summit Wireless Technologies, Inc., is incorporated in Delaware and operates in the semiconductors & related devices industry.

Why It Matters

This 8-K filing indicates a significant new agreement for WISA TECHNOLOGIES, INC., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the specifics of this agreement are not detailed in the provided text, necessitating further investigation.

Key Players & Entities

• WISA TECHNOLOGIES, INC. (company) — Registrant
• December 30, 2024 (date) — Date of earliest event reported
• Summit Wireless Technologies, Inc. (company) — Former company name
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.0001 — h registered Common Stock, par value $0.0001 per share WISA The Nasdaq Capital M
• $1,000,000 — Fee to mean an amount in cash equal to $1,000,000, paid into the Escrow Account (as defin

Filing Documents

• tm252064d2_8k.htm (8-K) — 36KB
• tm252064d2_ex2-1.htm (EX-2.1) — 15KB
• 0001104659-25-001395.txt ( ) — 227KB
• wisa-20241230.xsd (EX-101.SCH) — 3KB
• wisa-20241230_lab.xml (EX-101.LAB) — 33KB
• wisa-20241230_pre.xml (EX-101.PRE) — 22KB
• tm252064d2_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Asset Purchase Agreement As previously disclosed, on December 19, 2024, WiSA Technologies, Inc. (the "Company") entered into an asset purchase agreement (the "Asset Purchase Agreement") with CompuSystems, Inc., a Texas corporation ("CSI"), pursuant to which the Company has agreed to purchase, assume and accept from CSI all of the rights, title and interests in, to and under the assets and interests used in the Acquired Business (as defined in the Asset Purchase Agreement), and products and services solely to the extent they utilize the Transferred Assets (as defined in the Asset Purchase Agreement), including CSI's customer contracts, trademarks, and other intellectual property. On December 30, 2024, the Company and CSI entered into amendment to the Asset Purchase Agreement (the "Asset Purchase Agreement Amendment"). Pursuant to the Asset Purchase Agreement Amendment, the parties agreed to amend the definition of Breakup Fee to mean an amount in cash equal to $1,000,000, paid into the Escrow Account (as defined in the Asset Purchase Agreement) by January 10, 2025. Pursuant to the Asset Purchase Agreement Amendment, the parties also agreed to amend Section 6.21 of the Asset Purchase Agreement to allow the Company to cause the majority of the stockholders of the Company to execute the Voting Agreement (as defined in the Asset Purchase Agreement) by January 10, 2025. Except as stated above, the Asset Purchase Agreement Amendment does not make any other substantive changes to the Asset Purchase Agreement. A copy of the Asset Purchase Agreement Amendment is filed with this Current Report on Form 8-K ("Form 8-K") as Exhibit 2.1 and is incorporated herein by reference, and the foregoing description of the Asset Purchase Agreement Amendment is qualified in its entirety by reference thereto.

01

Item 9.01 Financial (d) Exhibits Exhibit No. Description 2.1 Amendment to the Asset Purchase Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Additional Information and Where to Find It THIS FORM 8-K IS ONLY A BRIEF DESCRIPTION OF THE TRANSACTION. IT IS NOT A REQUEST FOR OR SOLICITATION OF A PROXY OR AN OFFER TO ACQUIRE OR SELL ANY SHARES OF COMMON STOCK. THE COMPANY INTENDS TO FILE A PROXY STATEMENT AND OTHER REQUIRED MATERIALS WITH THE SEC CONCERNING THE TRANSACTION. A COPY OF ALL FINAL PROXY MATERIALS WILL BE SENT TO STOCKHOLDERS PRIOR TO THE 2025 ANNUAL MEETING OF STOCKHOLDERS AT WHICH THE COMPANY'S STOCKHOLDERS WILL BE ASKED TO VOTE ON THE PROPOSALS DESCRIBED IN THE MATERIALS PROVIDED BY THE COMPANY. THE COMPANY URGES ALL STOCKHOLDERS TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE, AS WELL AS ALL OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THOSE DOCUMENTS WILL INCLUDE IMPORTANT INFORMATION. A FREE COPY OF ALL MATERIALS THE COMPANY FILES WITH THE SEC AND PROXY STATEMENT, WILL BE AVAILABLE AT NO COST ON THE SEC'S WEBSITE AT WWW.SEC.GOV. WHEN THOSE DOCUMENTS BECOME AVAILABLE, THE PROXY STATEMENT AND OTHER DOCUMENTS FILED BY THE COMPANY MAY ALSO BE OBTAINED WITHOUT CHARGE BY DIRECTING A REQUEST TO WISA TECHNOLOGIES, INC. , 15268 NW Greenbrier Pkwy, Beaverton, OR 97006 , ATTENTION: SECRETARY. The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the transactions set forth herein. Information concerning such participants will be set forth in the proxy statement for the Company's 2025 Annual Meeting of Stockholders, which will be filed with the SEC on Schedule 14A. To the extent that holdings of the Company's securities change since the amounts printed in the Company's proxy statement, such changes will be reflected on Statements of Change in Ownership on Form 4 or other filings filed

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 : January 6, 2025 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