Hello Everyone,
We sent you our full report on WISA last night.
If you have been a member since April then you should remember this one as it was our biggest winner of the year so far.
WISA has taken flight again.
Just this morning the company dropped explosive news the street is reacting to.
Make sure you read it and get WISA on your radar:
WiSA Technologies Executes $210 Million Definitive Agreement to Purchase Assets, Including High-Performance Computing (HPC) Software and Acoustic Technologies IP, from Data Vault Holdings Inc.
- Creates licensing and technology company with extensive patent portfolio serving multiple industry and government entities in bioengineering, energy, education, finance & fintech, healthcare, sports entertainment, consumer, restaurants, automotive, and more –
- $210 million consists of 40 million shares of common stock to be issued at $5 per share plus $10 million 3-year Note -
- Investor conference call September 4, 8:30 am PT | 11:30 am ET -
BEAVERTON, Ore.--(BUSINESS WIRE)-- WiSA Technologies, Inc. (“WiSA Technologies”) (NASDAQ: WISA), announced that it has executed a definitive asset purchase agreement (the “Asset Purchase Agreement”) to purchase the Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® for $210 million, consisting of 40 million shares of common stock of WiSA Technologies to be issued at $5per share plus a $10 million 3-year Note. Closing, subject to customary conditions and approval by the stockholders of WiSA Technologies, is expected to occur prior to December 31, 2024. The management teams of WiSA Technologies and Data Vault Holdings will host an investor conference call today, September 4, at 8:30 am PT | 11:30 am ET, to discuss the transaction.
The resulting publicly traded data technology and licensing company will enable clients and strategic partners to monetize their Blockchain Data and AI Web 3.0 assets via tokenization, data ownership and digital twins. Following the asset acquisition, the company will include the Datavault and ADIO assets, talent and experience with WiSA Technologies to offer two solutions.
- Data Sciences will license High Performance Computing (HPC) software applications and Web 3.0 data management serving biotech research, energy, education, fintech, real estate, healthcare, among others.
- Acoustic Sciences will license spatial and multichannel HD sound transmission, including ADIO®, WiSA® and Sumerian™, to customers in sports & entertainment, events & venues, restaurants, automotive, finance, and other industries.
“This exciting transaction leverages our public company structure, creating a larger, more dynamic entity with broad reach in multiple, rapidly growing markets,” said Brett Moyer, CEO of WiSA Technologies. “Datavault’s substantial IP portfolio significantly amplifies our spatial audio technology and adds powerful HPC assets. Further, Nate Bradley brings his exceptional track record of successfully commercializing IP for five companies over 30 years. I look forward to joining forces to work together and create shareholder value for WiSA investors.”
Nathaniel T. Bradley, CEO and co-founder of Data Vault Holdings, said, “I have repeatedly monetized patent portfolios via licensing models. Now, our Data and Acoustic Sciences are ready for commercial expansion. Already, our applications, including secure tokenization, data ownership and digital twin, have attracted reputable users, and our increased industry awareness positions us to expand our customer base.”
About the Datavault Platform
Datavault’s software and encryption enables a comprehensive solution for managing and monetizing data in the Web 3.0 environment. It allows risk-free licensing of name, image, and likeness (NIL) by securely attaching physical real-world objects to immutable metadata or blockchain objects, fostering responsible AI with integrity. Datavault's solutions ensure privacy and credential protection. They are completely customizable and offer AI and ML automation, third-party integration, detailed analytics and data, marketing automation and advertising monitoring.
The platform creates value through scarcity, utility, and encrypted data protection and generates revenue through licensing partnerships that provide detailed analytics, sophisticated HPC modeling, digital ownership, tokenization, and advertising, among other means.
Summary of the Asset Purchase Agreement
- $210 million consideration paid to Data Vault Holdings in exchange for Datavault and ADIO intellectual property and information technology assets by WiSA Technologies.
- $200 million in the form of shares of restricted common stock of WiSA Technologiesto be issued at $5.00/share
- $10 million in an unsecured promissory note due 3 years from closing, with 10% of the proceeds of any financings used to pay down or pay off the promissory note in the interim
- 3% royalty on future revenues from Datavault and ADIO product lines to be paid to Master Vault, LLC.
Closing is subject to customary conditions and approval by the stockholders of WiSA Technologies. The proxy is expected to be mailed around the end of September, with the stockholders meeting to be held in Q4, 2024.
Upon closing, Bradley will become CEO and Moyer CFO and the company intends to change its name to Datavault Inc.
About Nathaniel (Nate) Bradley
Nathaniel (Nate) Bradley, CEO and Co-founder of Datavault Holdings, a highly accomplished inventor with over 70 international and U.S. patents across diverse fields such as Internet broadcasting, mobile advertising, behavioral healthcare, blockchain, cybersecurity, AI, and data science. As CEO and co-founder of Data Vault Holdings Inc., which operates Datavault Inc., Adio LLC, True Luck Inc., and Data Donate Technologies, Bradley has developed patented technologies that establish Datavault as a leader in Web 3.0 data monetization. He has also lobbied Congress for a Digital Bill of Rights and founded the Intellectual Property Network Inc., offering IP and IT development services globally. Previously, Bradley was the inventor and founder of AudioEye (NASDAQ: AEYE), where he pioneered cloud-based assistive technologies, earning recognition for his contributions to internet accessibility. His extensive experience includes roles as chief technology officer for Marathon Patent Group(currently named Marathon Digital Holdings, NASDAQ: MARA) and involvement in significant acquisitions within the Internet Radio industry.
You can research the company here: https://www.insiderfinancial.com/profile/wisa33
Sincerely,
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