Datavault AI Inc. has entered into a settlement agreement with Maxim Group LLC, resolving certain matters by issuing warrants, paying a cash fee, and agreeing to future collaboration. The agreement was made in consideration for Maxim waiving its right of participation related to the company's stock issuance on May 5, 2026.
Key Details
- Warrants Issued: The company issued "Participation Warrants" to Maxim Group to purchase up to 2,727,272 shares of common stock.
- Warrant Terms: The warrants have a five-year term and an exercise price of $0.6325 per share.
- Financial Terms: As part of the settlement, Datavault AI paid Maxim a cash fee of $1,050,000.
- Future Agreement: Datavault will retain Maxim as a co-sales agent for its next at-the-market (ATM) offering and will pay Maxim a 3% cash fee on the gross proceeds from sales in that offering.