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FAQ: Wearable Devices Ltd. $5.68 Million Warrant Inducement Agreement
TL;DR
Wearable Devices secures $5.68 million from warrant exercise, strengthening its financial position to advance AI gesture-control technology and gain market advantage.
The company issued new warrants for 5.8 million shares at $1.86 each, exercisable after shareholder approval and expiring in five years, with closing expected December 2025.
This funding supports development of touch-free AI technology that enhances accessibility and creates more intuitive human-computer interactions for diverse users.
Wearable Devices uses AI to translate gestures into device commands, enabling touchless control through products like the Mudra Band for gaming and productivity.
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Wearable Devices Ltd. has entered a warrant inducement agreement with an existing institutional investor for the immediate cash exercise of warrants to purchase 3,322,000 ordinary shares at $1.71 per share, generating approximately $5.68 million in gross proceeds.
The company will receive approximately $5.68 million in gross proceeds from the immediate cash exercise of warrants by the institutional investor.
In exchange for the full cash exercise, the company will issue new unregistered warrants to purchase up to 5,813,500 ordinary shares at $1.86 per share, exercisable upon shareholder approval and expiring five years thereafter.
Closing is expected on or about December 1, 2025, subject to customary conditions.
A.G.P./Alliance Global Partners is serving as exclusive financial advisor for this warrant inducement agreement.
Wearable Devices Ltd. is a growth company pioneering human-computer interaction through its AI-powered neural input touchless technology, with consumer products like the Mudra Band and Mudra Link that enable touch-free, intuitive control of digital devices using gestures.
The company operates through a dual-channel model of direct-to-consumer sales and enterprise licensing and collaborations, providing both consumer wearables for gaming, productivity, and XR, and enterprise solutions for immersive and interactive environments.
The latest news and updates relating to WLDS are available in the company's newsroom at https://ibn.fm/WLDS.
Wearable Devices' ordinary shares and warrants trade on the Nasdaq Capital Market under the symbols 'WLDS' and 'WLDSW,' respectively.
Curated from InvestorBrandNetwork (IBN)
