FAQ: Datavault AI's $150 Million Bitcoin Investment from Scilex Holding

What is the main announcement in this content?

Datavault AI has closed the initial tranche of its previously announced $150 million Bitcoin investment from Scilex Holding Company, with Scilex receiving 15,000,000 shares of Datavault common stock.

Who are the companies involved in this investment?

Datavault AI Inc. (NASDAQ: DVLT) is receiving the investment from Scilex Holding Company (NASDAQ: SCLX), with both companies being publicly traded on NASDAQ.

What are the financial terms of the initial investment tranche?

Scilex received 15,000,000 shares of Datavault common stock at an effective purchase price of $0.5378 per share as part of the initial tranche.

How will the remaining balance of the investment be handled?

The balance of the $150 million investment will be issued in a second tranche through a pre-funded warrant, subject to Datavault stockholder approval for shares exceeding 19.99% of pre-financing shares outstanding.

What does Datavault AI do as a company?

Datavault AI is a leader in AI-driven data visualization, valuation, and monetization with cloud-based solutions serving multiple industries including sports & entertainment, biotech, education, fintech, real estate, healthcare, and energy.

What are Datavault AI’s main technology divisions?

The company operates through two main divisions: the Acoustic Science Division featuring WiSA®, ADIO®, and Sumerian® patented technologies for wireless HD sound transmission, and the Data Science Division focusing on experiential data perception, valuation, and secure monetization in Web 3.0.

Where can I find more detailed information about this announcement?

The full press release is available at https://ibn.fm/MLmYX and additional company updates can be found in Datavault AI’s newsroom at https://ibn.fm/DVLT.

What is the Information Data Exchange (IDE) mentioned in the content?

The Information Data Exchange (IDE) enables Digital Twins and licensing of name, image, and likeness (NIL) by securely attaching physical real-world objects to immutable metadata objects, fostering responsible AI with integrity.

Where is Datavault AI headquartered?

The company is headquartered in Beaverton, OR.

What industries does Datavault AI’s technology platform serve?

The platform serves multiple industries including HPC software licensing for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, energy and more.