SAN JOSE, Calif.–(BUSINESS WIRE)–Summit Wireless Technologies, Inc (NASDAQ: WISA), a leading provider of
immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems and founding member of the
WiSA Association, today announced the pricing of its follow-on public
offering of 4,075,726 shares of its common stock at a price to the
public of $1.33 per share, for total gross proceeds of approximately
$5.4 million. Summit intends to use the net proceeds of the offering for
general corporate purposes, including working capital and product
development.
Alexander Capital, LP is acting as sole bookrunner for the offering.
Registration statements relating to these securities have been filed
with the Securities and Exchange Commission and became effective on May
21, 2019. The offering is being made only by means of a prospectus.
Copies of the final prospectus relating to and describing the terms of
the offering, when available, may be obtained from Alexander Capital,
LP, Attention: Bari Latterman – [email protected]
or by calling 855-288-2539.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy such securities, nor shall there be any
sale of such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider
of immersive, wireless sound technology for intelligent devices and next
generation home entertainment systems. Working with leading CE brands
and manufacturers such as Harman International, a division of Samsung,
LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of
Microsoft, and others, Summit Wireless delivers seamless, dynamic audio
experiences for high-definition content, including movies and video,
music, sports, gaming/esports, and more. Summit Wireless is a founding
member of WiSA, the Wireless Speaker and Audio Association and works in
joint partnership to champion the most reliable interoperability
standards across the audio industry. Summit Wireless, formerly named
Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales
teams in Taiwan, China, Japan, and Korea. For more information, please
visit: www.summitwireless.com.
© 2019 Summit Wireless Technologies, Inc. All rights reserved. Summit
Wireless Technologies and the Summit Wireless logo are trademarks of
Summit Wireless Technologies, Inc.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Readers
are cautioned not to place undue reliance on these forward-looking
statements. Actual results may differ materially from those indicated by
these forward-looking statements as a result of risks and uncertainties
impacting Summit Wireless’ business including, our ability to predict
the timing of design wins entering production and the potential future
revenue associated with our design wins; our rate of growth; our ability
to predict customer demand for our existing and future products and to
secure adequate manufacturing capacity; consumer demand conditions
affecting our customer’s end markets; our ability to hire, retain and
motivate employees; the effects of competition, including price
competition; technological, regulatory and legal developments;
developments in the economy and financial markets and other risks
detailed from time to time in Summit Wireless’ filings with the
Securities and Exchange Commission.
Contacts
Mary Magnani or Kirsten Chapman
Investor Relations
Summit
Wireless Technologies
415.433.3777
[email protected]
