In the Wednesday premarket session, shares of WiSA Technologies Inc. (NASDAQ: WISA) were down -39.13% at $0.1005, as the firm had just disclosed the pricing of its common share offering.
What has WISA stated?
At an effective public offering price of $0.14 per unit, WiSA Technologies (WISA) today announced the pricing of its public offering of an aggregate of 50,400,000 units and 3,600,000 pre-funded units. One share of common stock from WiSA Technologies, one Series A warrant to buy one share, and one Series B warrant to buy one share are all included in each unit. Each Series A Warrant and Series B Warrant will have an initial exercise price of $0.14 per share and an expiration date of five years.
One pre-funded warrant to buy one share of WISA common stock, one Series A Warrant, and one Series B Warrant will each be included in each pre-funded unit. WISA anticipates that the offering will close on or around December 1, 2022, pending the fulfillment of the usual closing requirements. WISA anticipates the total proceeds from the offering to be around $7.6 million, before subtracting the placement agent’s fees and other offering costs.
WISA’s financial results filing was postponed:
For the quarter that concluded on September 30, 2022, WiSA Technologies recently asked to postpone publishing its Quarterly Report on Form 10-Q. The request for a filing delay has been made in light of WISA’s previously disclosed and ongoing assessment of strategic alternatives; it is unrelated to any differences the company may have had with its auditor over the financial figures. Due to this postponement, WiSA Technologies has tentatively rescheduled its conference call to discuss quarterly results for November 21, 2022.
WISA unveiled a licensing program:
A licensing scheme for WiSA Technologies’ (WISA) premium multichannel wireless WiSA E software was just made public. Target audiences for the initiative are HDTV platforms and speaker manufacturers. WiSA Technologies believes that a low-cost licensing scheme making WISA’s audio technology easily accessible to industry platforms would enable an ecosystem of inexpensive and compatible immersive audio products as consumer demand for an enhanced audio experience rises.