WISA - WiSA Technologies to raise $3M in senior convertible security offering to investor

• WiSA Technologies ( NASDAQ: WISA ) announced the issuance of a $3.6M senior secured convertible note and warrant to investor, Lind Global Macro Fund.
• On closure, $3M in gross proceeds will be funded, with the net proceeds to be used by WiSA Technologies for general working capital purposes.
• The security is convertible into shares of WiSA Technologies’ common stock at the lower of $0.93 or 90% of the 5 lowest VWAPs during the 20 trading day period prior to conversion.
• The investor was also issued a 5-year warrant to purchase up to ~2.1M shares at an exercise price of $1/share.

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