WiSA Technologies Pays Off Senior Secured Convertible Note

By: WiSA Technologies, Inc. via Business Wire

April 14, 2023 at 07:00 AM EDT

Pays off balance of convertible note and expects to remove liens on assets, including intellectual property

WiSA Technologies, Inc. (Nasdaq: WISA), a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, today announced that it has paid off in its entirety the outstanding balance due under its Senior Secured Convertible Note issued on August 15, 2022, and expects to remove any previous liens on its assets, including on intellectual property attached to that Note.

“Paying off our remaining indebtedness marks a significant milestone, as it frees up previously encumbered assets and increases our flexibility to best pursue strategic alternatives,” said Brett Moyer, CEO, President, and Chairman of WiSA Technologies. “We are now better positioned to leverage our intellectual property and industry leading technology with customers and potential partners in next generation home entertainment products and systems.”

About WiSA Technologies, Inc.

WiSA Technologies (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, OR.

Safe Harbor Statement

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