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Technology Stocks : Semi Equipment Analysis
SOXX 305.41-1.4%Oct 30 4:00 PM EDT
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From: Julius Wong9/4/2024 9:29:56 AM
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WiSA Technologies rockets 60% on $210M purchase from Data Vault

Sep. 04, 2024 5:41 AM ET
By: Manshi Mamtora, CFA

Wasan Tita

  • WiSA Technologies (NASDAQ: WISA) executed a definitive asset purchase agreement to buy the Datavault® intellectual property and information technology assets of privately held Data Vault for $210M.
  • The price comprises 40M shares of WiSA Technologies ( WISA) to be issued at $5 per share plus a $10M 3-year note.
  • Closing is expected to occur before December 31, 2024.
  • “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,” said Brett Moyer, CEO.
  • WiSA ( WISA) shares jumped more than 60% to $2.18 on Wednesday during pre-market hours of trading.
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