Datavault AI (DVLT) Registration Filing summary

Company overview and business model

• Focuses on enabling high-quality wireless audio for mainstream consumers and audio enthusiasts, selling proprietary wireless modules and developing software-based solutions for integration into IoT and Wi-Fi-enabled devices.

• Recent expansion into licensing and Web 3.0, including acquisition of data assets and patented technologies for data monetization and enterprise intelligence.

• Completed acquisition of information technology assets, patents, and trademarks from Data Vault Holdings, with a promissory note and equity as consideration.

• Announced pending acquisition of CompuSystems, Inc., a provider of registration and data processing services for the events industry, for a mix of cash, stock, and convertible notes.

Financial performance and metrics

• Reported net loss of $4.16 million for CompuSystems in 2023, with a stockholders' deficit of $3.05 million as of year-end.

• Combined pro forma net loss for the nine months ended September 30, 2024, was $53.1 million, with a pro forma combined net loss per share of $1.04.

• Pro forma combined revenue for the year ended December 31, 2023, was $14.4 million, with a pro forma net loss of $40.4 million.

• Accumulated deficit of approximately $247 million as of December 31, 2023.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling stockholders; may receive up to $7.47 million from warrant exercises if exercised in full.

• Any proceeds from warrant exercises will be used for working capital, capital expenditures, product development, and sales and marketing investments domestically and internationally.

• Anticipates needing to raise additional capital to fund the $10 million cash portion of the CompuSystems acquisition.