24/7 Market News Snapshot 04 September, 2024 – WiSA Technologies, Inc. Common Stock (NASDAQ:WISA)

September 4, 2024

DENVER, Colo., 04 September, 2024 (247marketnews.com) – (NASDAQ:WISA) are discussed in this article.
WiSA Technologies, Inc. has generated significant excitement in the market, experiencing a notable surge with its stock trading at $2.045, an increase of over 50% from the previous day’s close of $1.36. The trading volume has reached an impressive 63.53 million shares, indicating a strong investor response and heightened interest in the company’s wireless audio technology offerings. This bullish sentiment reflects a promising outlook for the tech sector as investors eagerly monitor developments within WiSA Technologies.

Recently, the company announced a strategic acquisition aimed at enhancing its growth trajectory. WiSA has executed a definitive asset purchase agreement to acquire the innovative Datavault® intellectual property and IT assets from Data Vault Holdings Inc. The deal, valued at $210 million, will involve issuing 40 million shares at $5 each, alongside a $10 million note that spans three years. The acquisition is expected to close by the end of 2024, pending customary approvals.

This strategic move is projected to expand WiSA’s capabilities significantly, allowing the company to integrate advanced technologies such as Blockchain Data and AI Web 3.0 into its ecosystem. These innovations, including capabilities for tokenization and digital twins, are set to impact various sectors, including biotechnology, healthcare, entertainment, and education.

Brett Moyer, CEO of WiSA Technologies, highlighted the transaction’s potential to enhance shareholder value. On the other hand, Nate Bradley, CEO of Data Vault Holdings, emphasized the strong commercial growth prospects stemming from the collaboration. Following the acquisition, WiSA Technologies plans to rebrand as Datavault Inc., which reflects a commitment to developing comprehensive solutions focused on data privacy and secure management.

Both companies intend to host an investor conference call to elaborate on the details of this transformative agreement, emphasizing their dedication to transparency and ongoing shareholder engagement as they navigate the evolving technological landscape.

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