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- Data Vault's CEO to join today's Q3 2024 conference call to discuss its commercialization strategy –
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, today filed a Preliminary Proxy Statement for its Annual Meeting, which included information regarding its planned acquisition of Data Vault's ADIO® and Data Vault assets (the "Asset Purchase"). In its Q3 2024 conference call and presentation today at 8:00 am PT / 11:00 am ET, Data Vault's CEO Nate Bradley will also be joining to discuss recent news and the commercialization strategy.
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.
Posted In: WISA
