Wearable Devices Ltd. Announces a Warrant Inducement Transaction for $5.68 Million in Gross Proceeds

Core Viewpoint - Wearable Devices Ltd. has entered into a warrant inducement agreement with an institutional investor for the immediate exercise of existing warrants, raising approximately $5.68 million for working capital and corporate purposes [1][3]. Group 1: Warrant Inducement Agreement - The company will allow the immediate exercise of existing warrants to purchase up to 3,322,000 ordinary shares at an exercise price of $1.71 per share [1]. - In exchange for the immediate exercise, the company will issue new unregistered warrants to the investor to purchase up to 5,813,500 ordinary shares at an exercise price of $1.86 per share [3]. - The closing of this transaction is expected around December 1, 2025, pending customary closing conditions [3]. Group 2: Financial Advisor and Regulatory Compliance - A.G.P./Alliance Global Partners is acting as the exclusive financial advisor for this warrant inducement transaction [2]. - The private placement of the new warrants will rely on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933 and Regulation D [4]. Group 3: Company Overview - Wearable Devices Ltd. is a pioneer in AI-powered wearable gesture control technology, focusing on human-computer interaction through its products like the Mudra Band and Mudra Link [6][8]. - The company operates a dual-channel model, offering direct-to-consumer sales and enterprise licensing, enhancing user experiences in gaming, productivity, and extended reality [7].