Business Context and Reporting Period
This Form 8-K was filed by Summit Wireless Technologies, Inc. (not Datavault AI Inc.) on May 22, 2019. The registrant is a Delaware corporation with its principal executive office in San Jose, CA, and its common stock trades on The Nasdaq Capital Market under the symbol WISA. The company is classified as an emerging growth company.
Key Financial Metrics
The filing reports a specific capital raising event rather than periodic financial performance metrics.
- Transaction Type: Follow-on public offering of common stock.
- Shares Issued: 4,075,726 shares.
- Offering Price: $1.33 per share.
- Gross Proceeds: Approximately $5.4 million (before underwriting discounts, commissions, and offering expenses).
- Revenue, Profit, Cash Flow, Debt, and Margins: The filing text does not provide a clear value for these operational metrics.
Material Changes
The primary material change is the increase in the company's share count and cash position resulting from the priced offering of 4,075,726 shares. No other material changes to operations or financial status are detailed in this specific report.
Guidance, Outlook, and Risks
The filing references a press release (Exhibit 99.1) containing forward-looking statements regarding the Company. It includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated. Specific guidance or detailed risk factors are not contained within the body of this 8-K summary.
Investor Verification Checklist
- Verify the net proceeds after deducting underwriting discounts and offering expenses.
- Review the full text of the press release (Exhibit 99.1) for specific forward-looking statements and risk factors.
- Confirm the updated total share count and potential dilution impact on existing shareholders.
- Check subsequent filings for the intended use of the $5.4 million in gross proceeds.