Datavault AI issues USD 25.03 million unsecured convertible note

Datavault AI priced a USD 25.03 million unsecured convertible promissory note in a private placement with Streeterville Capital.

• The investor paid USD 25 million for the note; principal includes USD 30,000 of transaction expenses.
• The note carries 8% interest and matures 30 months from funding.
• The conversion price is set at USD 1.55 per share, with a later switch to a market-based formula tied to VWAP.
• The deal also issued 15,000,000 common shares as pre-delivery shares; the investor can buy up to USD 25 million of additional notes.