Summit Wireless Raises $1.7M in Private Placement of a Senior Secured Convertible Security
WiSA Technologies, Inc. (WISA)
Company Research
Source: Business Wire
SAN JOSE, Calif.--(BUSINESS WIRE)--Summit Wireless Technologies, Inc. (Nasdaq: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, today announced the sale of a $2.04 million senior secured security and warrant to Lind Global Macro Fund, LP. At closing, $1.7 million in gross proceeds will be funded, with the net proceeds to be used by Summit for general working capital and debt repayment purposes.Summit Wireless Technologies’ CEO Brett Moyer commented, “Summit completed this financing as a critical next step to executing its growth plan and supporting its customers as they launch their WiSA-certified products at retail this year.”The convertible security is secured by a first priority lien on substantially all of Summit Wireless Technologies’ assets and properties and is convertible, at the option of the investor and subject to certain exceptions in the security, on the earlier of (i) sixty days
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WISA
Earnings
- 5/15/23 - Beat
WISA
Sec Filings
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form 8-K
- 4/23/24 - Form 8-K
- WISA's page on the SEC website