WISA - WiSA to launch ~$6.2M registered direct offering and concurrent private placement

• Smart devices and home entertainment systems company WiSA Technologies ( NASDAQ: WISA ) is set to launch a registered direct offering and concurrent private placement estimated to be of ~$6.2M in gross proceeds.
• The offering will be priced at-the-market under Nasdaq rules.
• The company has entered into a securities purchase agreement with certain institutional investors to purchase 583,306 shares.
• Also, as part of a concurrent private placement, the company also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 874,959 shares.
• The combined effective offering price for each share and warrant is $10.68.
• The gross proceeds from the registered direct offering and concurrent private placement is estimated to be ~$6.2M.
• The offering is expected to close on or about Feb. 3.
• Shares were trading ~5% down pre-market.
• Source: Press Release

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