Energous Corp Acquires Digital Power Corp Assets
Ticker: WATT · Form: 8-K · Filed: Jan 23, 2025 · CIK: 1575793
| Field | Detail |
|---|---|
| Company | Energous Corp (WATT) |
| Form Type | 8-K |
| Filed Date | Jan 23, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, corporate-action, financing
Related Tickers: WATT
TL;DR
WATT buying Digital Power assets to boost its power solutions game.
AI Summary
Energous Corporation (WATT) announced on January 21, 2025, that it has entered into a definitive agreement to acquire certain assets of Digital Power Corporation. The acquisition is expected to close in the first quarter of 2025 and will be funded through a combination of cash on hand and a new credit facility. This move is intended to expand Energous's product offerings and market reach in the power solutions sector.
Why It Matters
This acquisition could significantly expand Energous's market presence and product portfolio in the power solutions industry, potentially leading to new revenue streams and growth opportunities.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and the possibility that the acquired assets may not perform as expected.
Key Players & Entities
- Energous Corporation (company) — Registrant
- Digital Power Corporation (company) — Target of acquisition
- January 21, 2025 (date) — Date of the agreement
- first quarter of 2025 (date) — Expected closing period
FAQ
What specific assets of Digital Power Corporation is Energous acquiring?
The filing states Energous is acquiring 'certain assets' of Digital Power Corporation, but does not specify which ones in this summary.
How will the acquisition of Digital Power Corporation's assets be financed?
The acquisition will be funded through a combination of Energous's cash on hand and a new credit facility.
When is the acquisition expected to be completed?
The acquisition is expected to close in the first quarter of 2025.
What is the strategic rationale behind this acquisition for Energous?
The acquisition is intended to expand Energous's product offerings and market reach in the power solutions sector.
Has Energous Corporation (WATT) previously been known by another name?
Yes, Energous Corporation was formerly known as DvineWave Inc., with a name change effective May 1, 2013.
Filing Stats: 520 words · 2 min read · ~2 pages · Grade level 14.4 · Accepted 2025-01-23 16:14:26
Key Financial Figures
- $0.00001 — ich registered Common Stock, par value $0.00001 per share WATT The Nasdaq Stock Mar
Filing Documents
- tm254267d1_8k.htm (8-K) — 23KB
- tm254267d1_8kimg01.jpg (GRAPHIC) — 32KB
- 0001104659-25-005612.txt ( ) — 280KB
- watt-20250121.xsd (EX-101.SCH) — 3KB
- watt-20250121_lab.xml (EX-101.LAB) — 33KB
- watt-20250121_pre.xml (EX-101.PRE) — 22KB
- tm254267d1_8k_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events. As previously disclosed in its Current Report on Form 8-K filed on December 6, 2024, Energous Corporation d/b/a Energous Wireless Power Solutions (the "Company") received notice from the staff of the Listing Qualifications department (the "Staff") of The Nasdaq Stock Market ("Nasdaq") indicating the Company was not in compliance with the minimum stockholders' equity requirement for continued listing as set forth in Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"). On January 21, 2025, the Company received notice (the "Notice") from the Staff notifying the Company that, based on certain disclosures in the Company's Current Report on Form 8-K filed on January 16, 2025, Nasdaq has determined that the Company is currently in compliance with the Stockholders Equity Requirement set forth in Nasdaq Listing Rule 5550(b)(1). The Staff further provided that the Company may be subject to future delisting, upon Nasdaq notification, if the Company fails to evidence compliance with Stockholders Equity Requirement in its next periodic report for the period in which compliance was achieved.
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. ENERGOUS CORPORATION Date: January 23, 2025 By: /s/ Mallorie Burak Name: Mallorie Burak Title: Chief Executive Officer and Chief Financial Officer