WISA TECHNOLOGIES, INC. Files S-1 Registration Statement

TL;DR

<b>WISA TECHNOLOGIES, INC. has filed an S-1 registration statement with the SEC, signaling potential future public offerings.</b>

AI Summary

WISA TECHNOLOGIES, INC. (DVLT) filed a IPO Registration (S-1) with the SEC on January 19, 2024. WISA TECHNOLOGIES, INC. filed an S-1 registration statement with the SEC on January 19, 2024. The company is incorporated in Delaware and its principal executive offices are located in Beaverton, Oregon. The filing indicates WISA TECHNOLOGIES, INC. was formerly known as Summit Wireless Technologies, Inc. The company's IRS Employer Identification No. is 30-1135279. The SIC code for WISA TECHNOLOGIES, INC. is 3674 (SEMICONDUCTORS & RELATED DEVICES).

Why It Matters

For investors and stakeholders tracking WISA TECHNOLOGIES, INC., this filing contains several important signals. This S-1 filing is a prerequisite for any public offering of securities, indicating the company is preparing to raise capital or allow existing shareholders to sell their shares on the public market. The filing provides detailed information about the company's business, financial condition, and management, which is crucial for potential investors to assess the risks and opportunities associated with the company.

Risk Assessment

Risk Level: low — WISA TECHNOLOGIES, INC. shows low risk based on this filing. The filing is an S-1 registration statement, which is a standard procedural document for companies planning to offer securities, and does not contain specific financial performance data or forward-looking statements that would indicate immediate risk.

Analyst Insight

Monitor for subsequent filings (e.g., amendments to the S-1, prospectus filings) to understand the specifics of any planned securities offering and the company's valuation.

Key Numbers

• 2024-01-19 — Filing Date (Date the S-1 registration statement was filed.)
• S-1 — Form Type (Type of registration statement filed.)
• 333-276631 — SEC File Number (SEC file number associated with the registration.)
• 3674 — SIC Code (Standard Industrial Classification code for Semiconductors & Related Devices.)
• 301135279 — IRS EIN (IRS Employer Identification Number.)
• DE — State of Incorporation (Jurisdiction where the company is incorporated.)
• 15268 NW Greenbrier Pkwy, Beaverton, OR 97006 — Principal Office Address (Location of the company's main business address.)
• 408-627-4716 — Business Phone (Contact phone number for the company's principal executive offices.)

Key Players & Entities

• WISA TECHNOLOGIES, INC. (company) — Registrant name
• 2024-01-19 (date) — Filing date
• S-1 (document) — Form type
• Delaware (jurisdiction) — State of incorporation
• Beaverton, OR (location) — Principal executive offices
• Summit Wireless Technologies, Inc. (company) — Former company name
• 3674 (industry_code) — Standard Industrial Classification Code
• 301135279 (id_number) — IRS Employer Identification No.

Forward-Looking Statements

• WiSA Technologies will proceed with a public offering of securities. (WISA TECHNOLOGIES, INC.) — high confidence, target: As soon as practicable after the effective date of this registration statement.
• The stock price of WiSA Technologies may experience downward pressure due to potential dilution from the continuous offering. (WISA TECHNOLOGIES, INC.) — medium confidence, target: Within 6-12 months post-effective date

FAQ

Key Dates

• 2024-01-19: Filing of Form S-1 — Indicates the company is preparing for a public securities offering.

Key Financial Figures

• $0.0001 — ne share of our common stock, par value $0.0001 per share (&ldquo;Common Stock&rdquo;)
• $0 — it will equal the price per Unit, minus $0.0001, and the exercise price of each Pr
• $0.1101 — ur shares of Common Stock on Nasdaq was $0.1101 per share. There is no established pub
• $55.00 — dquo;), at the public offering price of $55.00 per Unit. The Series B Preferred Warran
• $4.8 million — erred Stock Offering were approximately $4.8 million. Subsequent to the pricing of the Serie
• $1 — ,414 warrants with an exercise price of $1.91, 2,462,264 warrants with an exercise
• $1.33 — ,264 warrants with an exercise price of $1.33 and 510,000 warrants with an exercise p
• $1.29 — ,000 warrants with an exercise price of $1.29 (collectively, the &ldquo;Former Warran
• $0.50 — the &ldquo;Former Warrants&rdquo;), for $0.50 per Former Warrant. The Company used ap
• $2.3 million — Warrant. The Company used approximately $2.3 million in proceeds from the Series B Preferred
• $100.00 — Stock, with a liquidation preference of $100.00 per share, and further establishing the
• $35.72 — ) agreed to a reduced exercise price of $35.72 per share of Series B Preferred Stock,
• $0.4147 — the original fixed conversion price of $0.4147 (the &ldquo;Conversion Price&rdquo;) of
• $2.1 million — nts, and we have received approximately $2.1 million in gross proceeds from such exercises (

Filing Documents

• tm243251d1_s1.htm (S-1) — 2099KB
• tm243251d1_ex23-1.htm (EX-23.1) — 2KB
• tm243251d1_ex-filingfees.htm (EX-FILING FEES) — 24KB
• tm243251d1_img001.jpg (GRAPHIC) — 14KB
• 0001104659-24-005285.txt (&nbsp;) — 2145KB

RISK FACTORS

RISK FACTORS 9 CAUTIONARY 27 USE OF PROCEEDS 28

DILUTION

DILUTION 29 MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 30

BUSINESS

BUSINESS 36 MANAGEMENT 44 EXECUTIVE COMPENSATION 53 DIVIDEND POLICY 60 CAPITALIZATION 61 CERTAIN RELATIONS AND RELATED PERSON TRANSACTIONS 63 DESCRIPTION OF THE SECURITIES WE ARE OFFERING 64 PLAN OF DISTRIBUTION 66 PRINCIPAL STOCKHOLDERS 74 DESCRIPTION OF CAPITAL STOCK 78 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES 89 DISCLOSURE OF COMMISSION POSTION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITY 96 LEGAL MATTERS 96 EXPERTS 96 WHERE YOU CAN FIND MORE INFORMATION 96 INDEX TO FINANCIAL STATEMENTS F-1 i ABOUT THIS PROSPECTUS The registration statement on Form S-1 of which this prospectus forms a part and that we have filed with the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;), includes exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC, together with the additional information described under the heading &ldquo;Where You Can Find More Information.&rdquo; You should rely only on the information contained in this prospectus and the related exhibits, any prospectus supplement or amendment thereto, or to which we have referred you, before making your investment decision. Neither we, nor the placement agent or any financial advisor engaged by us in connection with this offering, have authorized anyone to provide you with additional information or information different from that contained in this prospectus. Neither the delivery of this prospectus nor the sale of our securities means that the information contained in this prospectus is correct after the date of this prospectus. You should not assume that the information contained in this prospectus, any prospectus supplement or amendments thereto, as well as information we have previously filed with the SEC, is accurate as of any date other than the date on the front cover of the applicable document. Our business, financial condition, r

View Full Filing

View this S-1 filing on SEC EDGAR