- 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.
For further details see:
WiSA Technologies to raise $3M in senior convertible security offering to investor