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Datavault AI Announces Closing of Initial Tranche Investment from Scilex Holding Company
BEAVERTON, Ore.--(BUSINESS WIRE)-- Datavault AI Inc. (Nasdaq: DVLT), a leader in AI-driven data visualization, valuation, and monetization, today announced
About this update from Datavault Ai Inc.
[{"type":"text","content":" BEAVERTON, Ore.--(BUSINESS WIRE)--\nDatavault AI Inc. (Nasdaq: DVLT), a leader in AI-driven data visualization, valuation, and monetization, today announced the closing of the initial tranche of the previously announced $150 million Bitcoin (BTC) investment from Scilex Holding Company (Nasdaq: SCLX, “Scilex”).\n\n\nUnder the terms of the agreement, Scilex is expected to receive up to 278,914,094 shares of Datavault common stock at an effective purchase price of $0.5378 per share, subject to adjustment for stock splits and similar transactions. At the closing of the initial tranche, Scilex received 15,000,000 shares of Datavault common stock. The remainder of the investment will be issued in a second tranche in the form of a pre-funded warrant to purchase Datavault common stock, subject to approval by Datavault stockholders for the issuance of shares to Scilex in excess of 19.99% of Datavault’s pre-financing shares outstanding.\n\n\nAbout Datavault AI Inc.\n\n\nDatavault AI™ (Nasdaq: DVLT) is leading the way in AI driven data experiences, valuation and monetization of assets. The company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Science and Data Science Divisions. Datavault AI's Acoustic Science Division features WiSA®, ADIO® and Sumerian® patented technologies and industry-first foundational spatial and multichannel wireless HD sound transmission technologies with IP covering audio timing, synchronization and multi-channel interference cancellation. The Data Science Division leverages the power of high-performance computing to provide solutions for experiential data perception, valuation and secure monetization. Datavault AI's cloud-based platform provides comprehensive solutions serving multiple industries, including HPC software licensing for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, energy and more. The Information Data Exchange® (IDE) enables Digital Twins, licensing of name, image and likeness (NIL) by securely attaching physical real-world objects to immutable metadata objects, fostering responsible AI with integrity. Datavault AI’s technology suite is completely customizable and offers AI and Machine Learning (ML) automation, third-party integration, detailed analytics and data, marketing automation and advertisi...