WiSA Technologies, Inc. (NasdaqCM : WISA) executed a definitive asset purchase agreement to acquire Assets, Including High-Performance Computing Software and Acoustic Technologies IP from Data Vault Holdings, Inc. for $210 million.

WiSA Technologies, Inc. (NasdaqCM : WISA) executed a definitive asset purchase agreement to acquire Assets, Including High-Performance Computing Software and Acoustic Technologies IP from Data Vault Holdings, Inc. for $210 million on September 4, 2024. WiSA Technologies will acquire the Assets for $210 million, consisting of 40 million shares of common stock ($200 million in the form of shares of restricted common stock) of WiSA Technologies to be issued at $5 per share plus a $10 million 3-year unsecured promissory note. Upon closing, Bradley will become CEO and Moyer CFO and the company intends to change its name to Datavault Inc. Closing, subject to customary conditions and approval by the stockholders of WiSA Technologies, is expected to occur prior to December 31, 2024.

Sullivan & Worcester LLC served as legal counsel for WiSA Technologies, and Mitchell Silberberg & Knupp LLP served as legal counsel for Data Vault Holdings Inc.