WiSA Technologies Extends Inducement Agreement Period

WiSA Technologies, Inc. (NASDAQ: WISA) recently announced the extension of its inducement agreement period with certain holders of common stock purchase warrants. The initial agreement, known as the Inducement Agreements, was entered into on September 10, 2024. This agreement stipulated that the company would issue common stock purchase warrants to holders of certain exchange warrants in exchange for exercising them during a specified period.

Initially, the Inducement Period was set to conclude on September 30, 2024. However, on that date, WiSA Technologies proceeded to extend the expiration date through an amendment agreement named the First Amendments with each holder. This first extension pushed the expiration date of the Inducement Period to October 31, 2024.

Subsequently, on October 31, 2024, the company further prolonged the Inducement Agreement’s expiration date by entering into a second amendment agreement, aptly named the Second Amendments, with the aforementioned holders. The newly agreed expiration date for the Inducement Period is now set for November 30, 2024.

It is highlighted that the information provided here is a summary and does not encompass all details of the Second Amendments. For further comprehensive details, reference is directed to the full text of the form of the Second Amendments, which is available for review in Exhibit 10.1 of the filed document.

The company also disclosed that there are no financial statements associated with this event. The only exhibit attached is the full text of the Second Amendment to the Inducement Agreement, dated as of October 31, 2024, provided in Exhibit 10.1.

This report was signed on behalf of WiSA Technologies, Inc. on October 31, 2024, by Brett Moyer, the company’s Chief Executive Officer.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read WiSA Technologies’s 8K filing here.

About WiSA Technologies

WiSA Technologies, Inc develops, manufactures, and sells audio wireless technology for smart devices and next-generation home entertainment systems in the United States and Europe. The company offers wireless modules. It serves primarily to consumer electronics companies. The company was formerly known as Summit Wireless Technologies, Inc and changed its name to WiSA Technologies Inc in March 2022.