On December 23, 2024, WiSA Technologies, Inc. announced that its stockholders approved the issuance of 40,000,000 shares of restricted common stock to Data Vault Holdings Inc. as partial consideration for acquiring certain intellectual property assets. The issuance will occur upon the closing of the transaction, subject to standard conditions. These shares will be restricted, meaning they cannot be resold immediately unless an exemption from registration under the Securities Act of 1933 applies. Furthermore, WiSA Technologies is not obligated to register these shares for resale.

The company issued an updated press release to clarify these terms, emphasizing the restricted nature of the shares. This strategic move aligns with WiSA's efforts to strengthen its intellectual property portfolio while adhering to regulatory requirements. The announcement reflects the company's commitment to enhancing its operational capabilities through key asset acquisitions.