Datavault AI Inc., a Delaware corporation, has announced the completion of the second closing of its previously disclosed debt offering. The company issued senior secured convertible notes with an aggregate principal amount of $11,111,111 in this additional closing. These notes carry a 10% original issue discount and mature 18 months from the date of issuance. No interest accrues during the term unless a default occurs, in which case the interest rate will be 12% per annum. The notes are convertible into shares of the company's common stock at a conversion price of $1.00 per share or at an alternate conversion price determined by market conditions. This development follows the initial issuance on April 3, 2025, where notes worth $5,555,555 were issued. Additionally, warrants to purchase up to 12,897,401 shares of common stock were issued in this recent closing.
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