WISA's Stockholders Approve Acquisition of Data Vault Holdings' Assets

WiSA Technologies, Inc. (WISA) announced that its stockholders have approved the acquisition of Datavault intellectual property and IT assets from Data Vault Holdings Inc. The deal was valued between $266 million and $501 million by a fairness opinion. WISA will issue 40 million shares of WiSA restricted common stock and a $10 million unsecured promissory note, due in three years (with 10% of any financing proceeds used for repayment) and a 3% royalty on future revenues generated from the Datavault and ADIO ...