WiSA Technologies Announces Reverse Stock Split
11 April 2024 - 6:05AM
Business Wire
WiSA Technologies, Inc. (Nasdaq: WISA, the “Company,” “we," "us”
or “our") a leading innovator in wireless audio technology for
intelligent devices and next-generation home entertainment systems,
today announced that on April 4, 2024, the Company’s Board of
Directors approved a 1-for-150 reverse split (the "Reverse Stock
Split") of the Company’s common stock (the "Common Stock"). On
April 12, 2024, the Company plans to file a certificate of
amendment to the Company’s certificate of incorporation, as
amended, with the Secretary of State of the State of Delaware to
effect the Reverse Stock Split as of 5:00 p.m. Eastern Time on that
date. On April 15, 2024 the Common Stock will begin trading on the
Nasdaq Capital Market (“Nasdaq”) on a split-adjusted basis at the
start of trading on April 15, 2024 and will have a new CUSIP number
of 86633R609.
Information to Stockholders
VStock Transfer, LLC, the Company transfer agent, will send
instructions to stockholders of record who hold stock certificates
regarding the exchange of certificates for Common Stock.
Stockholders who hold their shares of Common Stock in book-entry
form or in brokerage accounts or "street name" are not required to
take any action to effect the exchange of their shares of Common
Stock following the Reverse Stock Split. VStock Transfer, LLC may
be reached for questions at (212) 828-8436.
About WiSA Technologies, Inc.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of
immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems. Working with leading CE
brands and manufacturers such as Harman International, a division
of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and
others, the company delivers immersive wireless sound experiences
for high-definition content, including movies and video, music,
sports, gaming/esports, and more. WiSA Technologies, Inc. is a
founding member of WiSA™ (the Wireless Speaker and Audio
Association) whose mission is to define wireless audio
interoperability standards as well as work with leading consumer
electronics companies, technology providers, retailers, and
ecosystem partners to evangelize and market spatial audio
technologies driven by WiSA Technologies, Inc. The company is
headquartered in Beaverton, OR with sales teams in Taiwan, China,
Japan, Korea, and California.
Safe Harbor Statement
This press release contains forward-looking statements, which
are not historical facts, within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Our actual results,
performance or achievements may differ materially from those
expressed or implied by these forward-looking statements. In some
cases, you can identify forward-looking statements by the use of
words such as "may," "could," "expect," "intend," "plan," "seek,"
"anticipate," "believe," "estimate," "predict," "potential,"
"continue," "likely," "will," "would" and variations of these terms
and similar expressions, or the negative of these terms or similar
expressions. Such forward-looking statements, including statements
herein on the effective date of the Reverse Stock Split and the
date that trading of the Common Stock will begin on a
split-adjusted basis, are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our
management, are inherently uncertain. Readers are cautioned not to
place undue reliance on these forward-looking statements. Actual
results may differ materially from those indicated by these
forward-looking statements as a result of risks and uncertainties
including, but not limited to, our ability to maintain the listing
of our Common Stock on Nasdaq; our current liquidity position and
the need to obtain additional financing to support ongoing
operations; our ability to continue as a going concern; general
market, economic and other conditions; our ability to manage costs
and execute on our operational and budget plans; our ability to
achieve our financial goals; and other risks as more fully
described in our filings with the Securities and Exchange
Commission. The information in this press release is provided only
as of the date of this press release, and we undertake no
obligation to update any forward-looking statements contained in
this press release based on new information, future events, or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240410075848/en/
David Barnard, LHA Investor Relations, (415) 433-3777,
wisa@lhai.com
WiSA Technologies (NASDAQ:WISA)
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