Datavault AI (NASDAQ: DVLT) announced the closing of its registered direct offering of approximately 109.1 million shares, generating gross proceeds of about $60 million, before expenses, under a definitive agreement with institutional investors.
The company said it plans to use the net proceeds to support deployment of its quantum-ready GPU edge network, including infrastructure build-out and equipment, as well as for working capital and general corporate purposes, with Titan Partners acting as sole placement agent.
To view the full press release, visit https://ibn.fm/zltxE
About Datavault AI
Datavault AI(TM) (NASDAQ:DVLT) is leading the way in AI-driven data experiences, valuation, and monetization of assets in the Web 3.0 environment. The Company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Sciences and Data Science divisions.
The Acoustic Sciences division features WiSA(R), ADIO(R), and Sumerian(R) patented technologies and industry-first foundational spatial and multichannel wireless, high-definition sound transmission technologies with intellectual property covering audio timing, synchronization, and multi-channel interference cancellation. The Data Science division leverages the power of Web 3.0 and high-performance computing to provide solutions for experiential data perception, valuation, and secure monetization. The platform serves multiple industries, including high-performance computing software licensing for sports & entertainment, biotech, fintech, real estate, healthcare, energy, and more.
The Information Data Exchange(R) enables Digital Twins and the licensing of name, image, and likeness by securely anchoring to immutable metadata, fostering responsible AI with integrity. The Company’s technology suite offers AI- and machine-learning-based automation, third-party integration, and detailed analytics. Datavault AI is headquartered in Philadelphia, PA. Learn more at www.dvlt.ai .
NOTE TO INVESTORS: The latest news and updates relating to DVLT are available in the company’s newsroom at https://ibn.fm/DVLT
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