Corporate ActionJun 22, 2026, 04:47 PM
Datavault AI Issues Warrants to Maxim Group, Pays $1.05M Fee
AI Summary
Datavault AI Inc. issued Participation Warrants for up to 2,727,272 shares of common stock to Maxim Group LLC, alongside a $1,050,000 cash fee. This agreement also retains Maxim as a co-sales agent for a future at-the-market offering, where they will receive 3% of gross proceeds. The warrants were issued to settle certain matters and in consideration of Maxim waiving its participation rights from a previous equity distribution agreement. The company also filed a prospectus supplement to register these warrants.
Key Highlights
- Issued Participation Warrants for up to 2,727,272 shares to Maxim Group LLC.
- Paid Maxim Group a cash fee of $1,050,000.
- Retained Maxim as co-sales agent for a future ATM offering.
- Maxim to receive 3% of gross proceeds from future ATM offering sales.
- Participation Warrants have a five-year term.
- Warrants have an exercise price of $0.6325 per share.
- Warrants issued to settle matters and waive Maxim's participation rights.
- Filed prospectus supplement to register the Participation Warrants.
Price Impact
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