WiSA Technologies, Inc. (NASDAQ: WISA), which is in a definitive
agreement to acquire assets of Data Vault Holdings, Inc.® to form a
data technology & licensing company leveraging IP &
proprietary HPC software, will host its third quarter 2024 results
conference call at 8:00 am PT / 11:00 am ET, on Friday, November
15, 2024.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241106503667/en/
The conference call will be available through a live webcast
found here: Webcast | Third Quarter 2024 Results
Those without internet access or who wish to dial in may call:
1-833-366-1124 (domestic), or 1-412-317-0702 (international). All
callers should dial in approximately 10 minutes prior to the
scheduled start time and ask to be joined into the WiSA
Technologies call.
A webcast replay of the call will be available approximately one
hour after the end of the call and will be available for 90 days,
at the above webcast link. A telephonic replay of the call will be
available through November 22, 2024, and may be accessed by calling
1- 877-344-7529 (domestic) or 1- 412-317-0088 (international) or
Canada (toll free) 855-669-9658 and using access code 4877124.
A presentation of the Q3 2024 results will be accessible on
Friday, November 15, 2024, under the “Investors” section of WiSA
Technologies’ website.
Summary of WiSA Technologies & Data Vault Holdings
Proposed Asset Purchase
As announced on September 4, 2024, WiSA Technologies, Inc.
entered a definitive asset purchase agreement to purchase the
Datavault® and ADIO® intellectual property and information
technology assets of privately held Data Vault Holdings (the “Asset
Purchase”). Subject to customary closing conditions and approval by
the stockholders of WiSA Technologies, the closing is expected in
Q1 2025. A webcast about the transaction is accessible under the
Investors section of WiSA Technologies’ website.
About Data Vault Holdings, Inc.
Data Vault Holdings Inc. is a technology holding company that
provides a proprietary, cloud-based platform for the delivery of
blockchain objects. Data Vault Holdings Inc. provides businesses
with the tools to monetize data assets securely over its
Information Data Exchange® (IDE). The company is in the process of
finalizing the consolidation of its affiliates Data Donate
Technologies, Inc., ADIO LLC, and Datavault Inc. as wholly owned
subsidiaries under one corporate structure. Learn more about Data
Vault Holdings Inc. here.
About WiSA Technologies, Inc.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of
immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems. Working with leading CE
brands and manufacturers such as Harman International, a division
of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and
others, the company delivers immersive wireless sound experiences
for high- definition content, including movies and video, music,
sports, gaming/esports, and more. WiSA Technologies, Inc. is a
founding member of WiSA™ (the Wireless Speaker and Audio
Association) whose mission is to define wireless audio
interoperability standards as well as work with leading consumer
electronics companies, technology providers, retailers, and
ecosystem partners to evangelize and market spatial audio
technologies driven by WiSA Technologies, Inc. The company is
headquartered in Beaverton, OR with sales teams in Taiwan, China,
Japan, Korea, and California.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements,
include, among others, the Company’s and Data Vault Holdings’
(“Datavault”) expectations with respect to the proposed asset
purchase (the “Asset Purchase”) between them, including statements
regarding the benefits of the Asset Purchase, the anticipated
timing of the Asset Purchase, the implied valuation of Datavault,
the products offered by Datavault and the markets in which it
operates, and the Company’s and Datavault’s projected future
results and market opportunities. Readers are cautioned not to
place undue reliance on these forward-looking statements. Actual
results may differ materially from those indicated by these
forward-looking statements as a result of a variety of factors,
including, but are not limited to: (i) risks and uncertainties
impacting WiSA’s business including, risks related to WiSA’s
current liquidity position and the need to obtain additional
financing to support ongoing operations, WiSA’s ability to continue
as a going concern, WiSA’s ability to maintain the listing of its
common stock on Nasdaq, WiSA’s ability to predict the timing of
design wins entering production and the potential future revenue
associated with design wins, WiSA’s ability to predict its rate of
growth, WiSA’s ability to predict customer demand for existing and
future products and to secure adequate manufacturing capacity,
consumer demand conditions affecting WiSA’s customers’ end markets,
WiSA’s ability to hire, retain and motivate employees, the effects
of competition on WiSA’s business, including price competition,
technological, regulatory and legal developments, developments in
the economy and financial markets, and potential harm caused by
software defects, computer viruses and development delays, (ii)
risks related to the Asset Purchase, including WiSA’s ability to
close the Asset Purchase in a timely manner or at all, or on the
terms anticipated, whether due to WiSA’s ability to satisfy the
applicable closing conditions and secure stockholder approval from
its stockholders or otherwise, as well as risks related to WiSA’s
ability to realize some or all of the anticipated benefits from the
Asset Purchase, (iii) any risks that may adversely affect the
business, financial condition and results of operations of
Datavault, including but not limited to cybersecurity risks, the
potential for AI design and usage errors, risks related to
regulatory compliance and costs, potential harm caused by data
privacy breaches, digital business interruption and geopolitical
risks, and (iv) other risks as set forth from time to time in
WiSA’s filings with the U.S. Securities and Exchange Commission.
The information in this press release is as of the date hereof and
neither the Company nor Datavault undertakes any obligation to
update such information unless required to do so by law. The reader
is cautioned not to place under reliance on forward looking
statements. Neither the Company nor Datavault gives any assurance
that either the Company or Datavault will achieve its
expectations.
This press release shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed Asset Purchase. This press release shall
not constitute an offer to sell, or the solicitation of an offer to
buy, nor will there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act, or an
exemption therefrom.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241106503667/en/
David Barnard, LHA Investor Relations, +1 415-433-3777,
wisa@lhai.com
WiSA Technologies (NASDAQ:WISA)
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