WiSA Technologies Enters into Amendment to Asset Purchase Agreement

WiSA Technologies, Inc. (NASDAQ: WISA) recently disclosed in an 8-K filing on December 30, 2024, that the company has entered into an amendment to its asset purchase agreement with CompuSystems, Inc. This agreement, initially established on December 19, 2024, dictates that WiSA Technologies will acquire, assume, and accept all rights, title, and interests in assets and interests used in the Acquired Business from CompuSystems, Inc. These assets include customer contracts, trademarks, and other intellectual property relevant to the Transferred Assets.

The recent amendment to the Asset Purchase Agreement, dated December 30, 2024, outlines adjustments agreed upon by WiSA Technologies and CompuSystems, Inc. Notably, the amendment modifies the definition of the Breakup Fee to entail a cash amount of $1,000,000 to be deposited into the Escrow Account by January 10, 2025. Additionally, a revision in Section 6.21 of the Asset Purchase Agreement allows WiSA Technologies to prompt the majority of its stockholders to execute the Voting Agreement by the same date.

The amendment does not introduce any substantial changes beyond those specified. A copy of the Asset Purchase Agreement Amendment has been included with this 8-K filing as Exhibit 2.1 for reference.

This 8-K disclosure indicates a strategic move by WiSA Technologies in amending its asset purchase agreement, showcasing a commitment to the outlined terms of the acquisition process. It is a part of the company’s continued efforts to strengthen its position and operations within the industry.

Investors and stakeholders are advised to review the full details of the agreement amendment in the provided documentation. For more comprehensive information on the transaction and details about the company’s upcoming 2025 Annual Meeting of Stockholders, interested parties are encouraged to refer to the Proxy Statement, along with other relevant materials to be filed with the Securities and Exchange Commission.

For the latest financial statements and exhibits related to this amendment, individuals can access the complete record on the SEC’s website. WiSA Technologies remains dedicated to transparent communication and compliance with regulatory obligations, as evident in this recent filing.

Cautionary Note Regarding Forward-Looking Statements:

This report includes forward-looking statements concerning the recent amendment and its implications. Various factors could cause the actual results to differ substantially from the anticipated outcomes stated in these forward-looking statements. Readers are advised to exercise caution and not place undue reliance on these predictions.

WiSA Technologies reiterates its commitment to updating stakeholders on any material developments that may ensue from the amendment to the Asset Purchase Agreement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read WiSA Technologies’s 8K filing here.

WiSA Technologies Company Profile

WiSA Technologies, Inc develops, manufactures, and sells audio wireless technology for smart devices and next-generation home entertainment systems in the United States and Europe. The company offers wireless modules. It serves primarily to consumer electronics companies. The company was formerly known as Summit Wireless Technologies, Inc and changed its name to WiSA Technologies Inc in March 2022.