Datavault AI announced a $60 million registered direct offering of 109,090,910 common shares at $0.55 each, a discount to $0.7438.
The offering, led by global investment managers with existing shareholders, is expected to close around May 5, 2026.
Shares plunged 23% on Monday as the dilution increased the outstanding share count, triggering a sharp price decline.
Net proceeds will fund the quantum‑ready GPU edge network build‑out, equipment, working capital and general corporate purposes.