WISA Technologies Files Definitive Proxy Statement

TL;DR

WISA Tech filed proxy docs, shareholders vote soon.

AI Summary

WISA Technologies, Inc. filed a Definitive Proxy Statement (DEFA14A) on December 5, 2024. This filing is related to the company's proxy solicitation activities. The company, formerly known as Summit Wireless Technologies, Inc., is headquartered in Beaverton, Oregon.

Why It Matters

This filing indicates that WISA Technologies is actively engaging with its shareholders, likely to vote on important corporate matters such as board elections or significant business proposals.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (DEFA14A) and does not inherently present new risks to investors.

Key Players & Entities

• WISA Technologies, Inc. (company) — Registrant
• Summit Wireless Technologies, Inc. (company) — Former Company Name
• Summit Semiconductor Inc. (company) — Former Company Name
• 20241205 (date) — Filing Date

FAQ

Key Financial Figures

• $210 million — 14, 2024, WiSA Technologies executed a $210 million Definitive Agreement to purchase assets
• $5 — es of WiSA common stock to be issued at $5 per share plus a $10 million 3-year Not
• $10 million — ock to be issued at $5 per share plus a $10 million 3-year Note, along with a 3% royalty on

Filing Documents

• tm2430222d1_defa14a.htm (DEFA14A) — 23KB
• 0001104659-24-125895.txt ( ) — 25KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (RULE 14a-101) SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ) Filed by the Registrant Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, For Use of the Commission Only (as Permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials ¨ Soliciting Material under §240.14a-12 WiSA Technologies, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required ¨ Fee paid previously with preliminary materials. ¨ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11. WiSA Technologies, Inc. Mails Definitive Proxy and Encourages All Stockholders to Vote - WiSA’s board unanimously recommends vote in favor of Data Vault asset purchase - BEAVERTON, OR — (December 05, 2024) — WiSA Technologies, Inc. (NASDAQ: WISA), which is in a definitive agreement to acquire AI, blockchain and Data Web 3.0 IP assets of Data Vault Holdings, Inc.® (“Data Vault”) to form a data technology & licensing company leveraging IP & proprietary HPC software, has mailed a Definitive Proxy Statement for its 2024 Annual Meeting of Stockholders (the “Annual Meeting”), which is to be held on December 20, 2024, and included information regarding its planned acquisition of Data Vault’s ADIO® and Data Vault assets (the “Asset Purchase”). WiSA’s stockholders of record at the close of business on November 6, 2024 (the “Record Date”) will be entitled to vote at the Annual Meeting. WiSA’s board of directors unanimously recommends that stockholders vote in favor of the Asset Purchase. How to Vote Stockholders of record can vote in one of three convenient ways. Have your 11-digit control number provided on your proxy card ready when voting by Internet or phone. 1. Online: Go to www.FCRvote.com/WISA and follow the prompts to vote your shares. 2. Phone: Call 1 866 402-3905 and follow the voting instructions to cast your vote. 3. Mail: Complete, sign, and return the proxy card in the postage-paid envelope provided. Beneficial For additional information about the meeting and the proposals, please refer to the proxy materials available at https://web.viewproxy.com/WISA/2024 Questions or Assistance Stockholders who need assistance voting their shares may contact Alliance Advisors, which is serving as Proxy Solicitor: Alliance Advisors 855-643-7310 WISA@allianceadvisors.com The Asset Purchase Agreement On September 4, 2024, as amended on November 14, 2024, WiSA Technologies executed a $210 million Definitive Agreement to purchase assets, including High-Performance Computing (HPC) software and acoustic technologies IP, from Data Vault, to create a licensing and technology company with an extensive patent portfolio serving multiple industry and government entities in bioengineering, energy, education, finance & fintech, healthcare, sports entertainment, consumer, restaurants, automotive, and more. The $210 million purchase price consists of 40 million shares of WiSA common stock to be issued at $5 per share plus a $10 million 3-year Note, along with a 3% royalty on applicable product revenues. Stockholders’ Meeting The Company filed a Definitive Proxy Statement (Amendment No. 1) on November 26, 2024, for the Annual Meeting to be held on December 20, 2024 at 1:00 p.m., Pacific Time, at the Company’s offices at 15268 NW Greenbrier Pkwy, Beaverton, Oregon 9700. Stockholders have an opportunity to vote at the Annual Meeting to approve the Asset Purchase, along with the various other proposals included in the Definitive Proxy Statement. If approved by stockholders, WiSA expects that the Asset Purchase will close shortly after the Annual Meeting, subject to satisfaction of customary closing conditions. About Data Vault Holdings, Inc. Data Vault Holdings Inc. is a technology holding company that provides a proprietary, cloud-based platform for the delivery of blockchain objects. Data Vault Holdings Inc. provides businesses with the tools to monetize data assets securely over its Information Data Exchange® (IDE). The company is in the process of finalizing the consolidation of its affiliates Data Donate Technologies, Inc., ADIO LLC, and Datavault Inc. as wholly owned subsidiaries under one corporate structure. Learn more about Data Vault Holdings Inc. here . LEGAL DISCLAIMER Forward-Looking This press release of WiSA Technologies, Inc. (NASDAQ: WISA) (the “Company”, “us”, “our” or “WiSA”)

View Full Filing

View this DEFA14A filing on SEC EDGAR