WiSA Technologies, Inc. (WISA) has released an update.
WiSA Technologies, Inc. successfully completed a public offering, raising approximately $10 million through the sale of units and pre-funded units, incorporating common stock shares and warrants. These financial instruments come with adjustable terms, such as exercise prices and share amounts, based on specific market events and stockholder approvals. The company has allocated a portion of the proceeds to repurchase preferred stock and will use the remainder for working capital and general corporate needs. This move is part of WiSA’s efforts to comply with Nasdaq’s listing requirements after receiving delisting warnings due to low bid prices and insufficient stockholders’ equity. The company is actively appealing the delisting decision to maintain its Nasdaq listing.
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