<a href="https://laohu8.com/S/DVLT">Datavault AI Inc.</a> Updates Agreement to Acquire API Media, Sets New Closing Conditions
Datavault AI Inc. has announced an amendment to its Stock Purchase Agreement with API Media Innovations Inc. and its sellers, David Reese and Frank Tomaino. The amendment, dated August 19, 2025, includes several key changes, such as removing the Drop Dead Date, which previously allowed for the termination of the agreement under certain conditions. Additionally, the parties agreed to delete a termination provision related to breaches that have not been cured within ten days of written notice. The amendment also eliminates a financing contingency, which required Datavault AI Inc. to have net proceeds of at least $10 million from investors or financial institutions to close the transaction. Under the original agreement, Datavault AI Inc. will purchase all outstanding shares of API Media's common stock for $6 million in cash, 5,117,188 shares of Datavault's common stock, and $2 million in convertible promissory notes.
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