WiSA Technologies, Inc., a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, is moving forward in its exploration of strategic alternatives to consider a wide range of options for the Company. To explore strategic opportunities specifically involving the Company’s IP and licensable software used in WiSA E and WiSA DS technologies, the Board of Directors approved the engagement of AQ Technology Partners during the third quarter to assist in this process. To date, four companies have executed NDAs in consideration of a potential transaction.
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The Company, with its advisors, is evaluating a broad range of strategic transactions. Potential strategic transactions that may be explored or evaluated as part of this process include the potential for capital raising transactions, an acquisition, sale of assets, including substantially all of the Company’s assets, merger, business combination, partnership, joint venture, licensing and/or another strategic alternative. Despite devoting efforts to identify and evaluate potential strategic transactions, the process may not result in any definitive offer to consummate a strategic transaction, or, if WiSA Technologies receives such a definitive offer, the terms may not be as favorable as anticipated or may not result in the execution or approval of a definitive agreement. Even if the Company enters into a definitive agreement, the Company may not be successful in completing a transaction or, if it completes such a transaction, it may not enhance stockholder value or deliver expected benefits.
WiSA Technologies, Inc. does not expect to disclose developments with respect to this process unless or until the evaluation of strategic alternatives has been completed or the Board of Directors has concluded disclosure is appropriate or legally required.
WiSA Technologies, Inc. (Nasdaq: WISA) develops, markets, and sells spatial audio wireless technology for smart devices and next-generation home entertainment systems. Its consortium—the WiSA Association—works with leading consumer electronics companies, technology providers, retailers, and industry partners to make spatial audio an experience that everyone can enjoy. The Company is headquartered in Beaverton,