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Datavault AI Inc. (NASDAQ:DVLT) announced Monday that it has mutually agreed with API Media Innovations Inc. and the sellers, David Reese and Frank Tomaino, to terminate a previously disclosed Stock Purchase Agreement. The agreement, originally signed on July 13, 2025, would have seen Datavault AI acquire all issued and outstanding shares of API Media Innovations. This news comes as DVLT shares have taken a significant hit, dropping 38.11% over the past week.
According to a press release statement based on the company’s filing with the Securities and Exchange Commission, the termination was executed by mutual written consent on October 28, 2025, and is effective immediately. The company stated that no material early termination penalties were incurred as a result of ending the agreement.
The original purchase agreement terms and conditions were filed as an exhibit to Datavault AI’s Form 8-K dated July 17, 2025. The company’s common stock is listed on the Nasdaq Capital Market under the symbol DVLT.
No further details regarding the reasons for the termination or future plans related to the transaction were provided in the filing.
In other recent news, Datavault AI has announced a definitive agreement to acquire API Media, with the deal expected to close in December. This acquisition aims to enhance Datavault AI’s enterprise data activation and expand its AI-powered capabilities, offering new monetization opportunities across global markets. In a separate development, Datavault AI has partnered with NFHITS to develop a blockchain-based music and content distribution network, focusing on transparent monetization for artists using Web 3.0 technology. Additionally, the company plans to issue commemorative Dream Bowl 2026 meme coins to its shareholders and those of Scilex Holding Company, pending board approval. These digital collectibles will include ownership proof, ticketing details, and exclusive content related to the event. Meanwhile, Wolfpack Research has announced a short position in Datavault AI, expressing concerns over what it calls misleading claims and questionable leadership. The short-seller’s report criticized the company’s assertions about its AI technology and quantum computing capabilities, highlighting past SEC charges against CEO Nathaniel Bradley.
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