WiSA Technologies Announces Pricing Of $2.3M Registered Direct Offering Of 76,676,478 Shares Of Common Stock And Concurrent Private Placement Priced At-The-Market
Portfolio Pulse from Benzinga Newsdesk
WiSA Technologies, Inc. (NASDAQ:WISA) announced a $2.3M registered direct offering of 76,676,478 shares of common stock and a concurrent private placement of warrants to purchase up to the same number of shares, priced at-the-market. The offering and private placement have a combined effective price of $0.03 per share or warrant, with warrants exercisable at $0.04 per share after stockholder approval. The gross proceeds are estimated at $2.3M, before fees and expenses, with the offering expected to close by March 27, 2024. Maxim Group LLC is the exclusive placement agent.
March 26, 2024 | 1:06 pm
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WiSA Technologies announces a $2.3M offering of shares and warrants, with proceeds aimed at funding its operations and growth. The offering is priced at-the-market, indicating a potential dilution effect on current shareholders.
The announcement of a significant offering of shares and warrants by WiSA Technologies is likely to have a short-term negative impact on its stock price due to the potential dilution effect on existing shareholders. The pricing of the offering at $0.03 per share or warrant, with an exercise price of $0.04 for the warrants, suggests a below-market pricing strategy that could lead to downward pressure on the stock. However, the proceeds from the offering are intended for the company's growth, which could have positive long-term implications.
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