Datavault AI (NASDAQ: DVLT) Announces $60M Registered Direct Offering

At a glance

Company: Datavault AI
Ticker: NASDAQ: DVLT
Announcement: Financing
Location: Philadelphia, PA

Key figures

Shares in offering: approximately 109.1 million shares
Gross proceeds before expenses: about $60 million

Products and programs

quantum-ready GPU edge network

Datavault AI (NASDAQ: DVLT) announced the closing of its registered direct offering of approximately 109.1 million shares, generating gross proceeds of about $60 million, before expenses, under a definitive agreement with institutional investors.

The company said it plans to use the net proceeds to support deployment of its quantum-ready GPU edge network, including infrastructure build-out and equipment, as well as for working capital and general corporate purposes, with Titan Partners acting as sole placement agent.

To view the full press release, visit https://ibn.fm/zltxE

About Datavault AI

Datavault AI(TM) is leading the way in AI-driven data experiences, valuation, and monetization of assets in the Web 3.0 environment. The Company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Sciences and Data Science divisions.

The Acoustic Sciences division features WiSA(R), ADIO(R), and Sumerian(R) patented technologies and industry-first foundational spatial and multichannel wireless, high-definition sound transmission technologies with intellectual property covering audio timing, synchronization, and multi-channel interference cancellation. The Data Science division leverages the power of Web 3.0 and high-performance computing to provide solutions for experiential data perception, valuation, and secure monetization. The platform serves multiple industries, including high-performance computing software licensing for sports & entertainment, biotech, fintech, real estate, healthcare, energy, and more.

The Information Data Exchange(R) enables Digital Twins and the licensing of name, image, and likeness by securely anchoring to immutable metadata, fostering responsible AI with integrity. The Company’s technology suite offers AI- and machine-learning-based automation, third-party integration, and detailed analytics. Datavault AI is headquartered in Philadelphia, PA. Learn more at .

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In brief

Datavault AI says it has completed a registered direct offering with institutional investors, issuing approximately 109.1 million shares and receiving about $60 million in gross proceeds before expenses. The company plans to direct the net proceeds toward deploying its quantum-ready GPU edge network, including infrastructure development and equipment purchases. It also expects to use funds for working capital and general corporate purposes. Titan Partners served as the offering’s sole placement agent. Datavault AI describes its platform as spanning Acoustic Sciences and Data Science, with services for data valuation and monetization, wireless audio technologies, and applications across several industries. The release identifies Philadelphia, Pennsylvania, as the company’s headquarters.

Key takeaways

Datavault AI closed a registered direct offering with institutional investors.
The offering involved approximately 109.1 million shares and generated about $60 million in gross proceeds before expenses.
Planned uses include GPU edge network deployment, infrastructure, equipment, working capital and general corporate purposes.
Titan Partners acted as sole placement agent.

SEC filings

Earlier from Datavault AI

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