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Datavault AI Inc. (NASDAQ:DVLT), currently trading at $0.77 per share with a market capitalization of $65 million, announced Monday that it has entered into an equity distribution agreement with Maxim Group LLC, allowing the company to issue and sell up to $50 million of its common stock through at-the-market offerings. According to InvestingPro data, the company has been quickly burning through cash, with a negative free cash flow of $20.09 million in the last twelve months. The arrangement enables Datavault AI to offer shares from time to time on the Nasdaq Capital Market or other trading venues, with Maxim acting as sales agent.
According to a press release statement and SEC filing, sales under the agreement will be conducted pursuant to a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on July 9, 2025. Datavault AI will pay Maxim a commission of up to 3% of the gross proceeds from any stock sold. The company is not obligated to sell any shares under the agreement and may terminate the arrangement at any time, as may Maxim. InvestingPro analysis indicates the company’s overall financial health score is weak, with particularly concerning metrics in profitability and cash flow management. For detailed insights into DVLT’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Also on Monday, Datavault AI entered into a waiver agreement with certain purchasers from a prior securities purchase agreement dated March 31, 2025. Under this waiver, the purchasers agreed to temporarily waive provisions related to variable rate transactions and participation rights for a 60-day period. In exchange, Datavault AI agreed to limit share sales under the new equity distribution agreement to no more than 10% of trading volume per day during regular hours, not to sell below $1.10 per share, and not to exceed $25 million in aggregate sales during the waiver period. The stock has shown significant volatility, with InvestingPro data showing a 28% return over the last week despite a 44% decline over the past six months.
Additionally, Datavault AI agreed to issue a total of 5 million shares of common stock to these purchasers upon receiving stockholder approval, which the company intends to seek by September 30, 2025. The company also committed to filing a registration statement to register the resale of these new shares and to keep it effective until all shares are sold.
The newly issued shares to purchasers will be offered in reliance on exemptions from registration under U.S. securities laws.
All information is based on a press release statement and the company’s Form 8-K filing with the SEC.
In other recent news, Datavault AI has announced a strategic partnership with Burke Products to engineer solutions for defense and aerospace contracts, with initial revenue expected in 2025. This collaboration will integrate Datavault AI’s data services and proprietary technologies with Burke’s manufacturing capabilities. In another development, Datavault AI completed the acquisition of patents and trademarks related to inaudible tone technology from Web Access, LLC. This technology will be integrated into Datavault AI’s current products, potentially opening opportunities in new industries.
Additionally, Datavault AI outlined its objectives for the third quarter of 2025, focusing on launching new digital asset exchange platforms and completing strategic acquisitions. The company also acquired SyncIN technology from Turner Global Media, which embeds inaudible tone mobile quick response codes for blockchain transactions. Furthermore, Datavault AI is developing an AI-driven system to optimize canola crops for biofuel production in collaboration with the U.S. Department of Energy’s Brookhaven National Laboratory. These initiatives reflect Datavault AI’s ongoing efforts to expand its technological capabilities and market reach.
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