# EDGAR Filing Document

**Accession Number:** 0001682149
**File Stem:** 0001104659-23-007078
**Filing Date:** 2023-1
**Character Count:** 19800
**Document Hash:** 639cf580ade6e5fe0beb708598584749
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-007078.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001104659-23-007078

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WISA TECHNOLOGIES, INC.
- **CENTRAL INDEX KEY:** 0001682149
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **IRS NUMBER:** 301135279
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38608
- **FILM NUMBER:** 23558718

**BUSINESS ADDRESS:**
- **STREET 1:** 15268 NW GREENBRIER PKWY
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97006
- **BUSINESS PHONE:** 408-627-4716

**MAIL ADDRESS:**
- **STREET 1:** 15268 NW GREENBRIER PKWY
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97006

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Summit Wireless Technologies, Inc.
- **DATE OF NAME CHANGE:** 20180914

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Summit Semiconductor Inc.
- **DATE OF NAME CHANGE:** 20180501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUMMIT SEMICONDUCTOR
- **DATE OF NAME CHANGE:** 20180416

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **January 26, 2023 (January 26, 2023)**

**WISA TECHNOLOGIES, INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-38608** | **30-1135279** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification Number) |

---

---

| | |
|:---|:---|
| **15268 NW Greenbrier Pkwy**<br> **Beaverton, OR** | **97006** |
| (Address of registrant's principal executive office) | (Zip code) |

---

**(408) 627-4716**

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading symbol(s)** | **Name of each exchange on which<br> registered** |
| Common Stock, par value $0.0001 per share | WISA | The Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 3.03 Material Modification to Rights of Security Holders.**

To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

**Item 5.03 Amendments to Articles of Incorporation or Bylaws.**

As previously reported in a Current Report on Form 8-K filed by WiSA Technologies, Inc. (the "Company") on January 25, 2023, at a special meeting of the Company's stockholders held on January 24, 2023, the stockholders of the Company voted to approve an amendment to the Company's certificate of incorporation, as amended ("Certificate of Incorporation"), to effect a reverse stock split of all outstanding shares of Company's common stock, par value $0.0001 per share (the "Common Stock") at a ratio in the range of one-for-five to one-for-one hundred, to be determined in the the sole discretion of the Board of Directors of the Company (the "Board"). On January 24, 2023, the Board approved a 1-for-100 reverse stock split (the "Reverse Stock Split") of the Common Stock and authorized the filing of an certificate of amendment to the Certificate of Incorporation with the Secretary of State of the State of Delaware (the "Certificate of Amendment") to effect the Reverse Stock Split. On January 26, 2023, the Company filed the Certificate of Amendment to effect the Reverse Stock Split as of 5:00 p.m. Eastern Time on January 26, 2023 (the "Effective Time"). The Common Stock is expected to begin trading on the Nasdaq Capital Market ("Nasdaq") on a split-adjusted basis at the start of trading on January 27, 2023.

As a result of the Reverse Stock Split, every hundred (100) shares of Common Stock issued and outstanding as of the Effective Time will be converted into one (1) share of Common Stock (the "New Common Stock"). The New Common Stock will have a new CUSIP number of 86633R302. The Reverse Stock Split does not affect the total number of shares of capital stock, including the Common Stock, that the Company is authorized to issue, which shall remain as set forth pursuant to the Certificate of Incorporation. No fractional shares of New Common Stock will be issued in connection with the Reverse Stock Split, all of which shares of New Common Stock shall be rounded up to the nearest whole number of such shares.

The Company's outstanding warrants and equity awards will be adjusted as a result of the Reverse Stock Split, as required by the terms of such warrants and equity awards.

VStock Transfer, LLC, the Company transfer agent, will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for New Common Stock. Stockholders who hold their shares of Common Stock in book-entry form or in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares of Common Stock following the Reverse Stock Split.

The foregoing summary of the Certificate of Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

*Forward-Looking Statements*

This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities, or future events or conditions, which can be identified by terminology such as "may," "will," "expects," "anticipates," "aims," "potential," "future," "intends," "plans," believes," "estimates," "continue," "likely to," and other similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are not historical facts and are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, many of which are beyond the Company's control, including, among other things, the effective date for the Reverse Stock Split, the date that trading of the New Common Stock will begin on a split-adjusted basis, the Company's ability to regain compliance with the Nasdaq Listing Standards and maintain the listing of its securities on Nasdaq, which may cause the Company's actual results, performance and achievements to differ materially from those contained in any forward-looking statement. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks that may be included in the periodic reports and other filings that the Company files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this Form 8-K, except as required by applicable law.

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| | |
|:---|:---|
| **Item 8.01.** | **Other Information.** |

---

On January 26, 2023, the Company issued a press release with respect to the Reverse Stock Split. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

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(d) Exhibits

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [3.1](tm234521d1_ex3-1.htm) | [Certificate of Amendment to Certificate of Incorporation of WiSA Technologies, Inc.](tm234521d1_ex3-1.htm) |
| [99.1](tm234521d1_ex99-1.htm) | [Press Release dated January 26, 2023.](tm234521d1_ex99-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: January 26, 2023 | **WISA TECHNOLOGIES, INC.** | **WISA TECHNOLOGIES, INC.** |
|  | By: | /s/ Brett Moyer |
|  |  | Brett Moyer |
|  |  | Chief Executive Officer |

---

## Exhibit 3.1

**Exhibit 3.1**

**CERTIFICATE OF AMENDMENT OF**

**CERTIFICATE OF INCORPORATION OF**

**WISA TECHNOLOGIES, INC.**

WiSA Technologies, Inc., a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the "**Corporation**"), does hereby certify that:

FIRST: The name of the Corporation is WiSA Technologies, Inc.

SECOND: This Certificate of Amendment (this "**Certificate of Amendment**") amends the provisions of the Corporation's Certificate of Incorporation, as amended, and any amendments thereto (the "**Certificate of Incorporation**"), last amended by a certificate of amendment to the Certificate of Incorporation filed with the Secretary of State on March 11, 2022.

THIRD: Article Fourth of the Certificate of Incorporation is hereby amended by inserting the following provision below the last sentence in Article Fourth of the Certificate of Incorporation:

"Upon the filing of this Certificate of Amendment with the Secretary of State of the State of Delaware (the "**2023 Effective Time**"), each one hundred (100) outstanding shares of Common Stock outstanding immediately prior to the Effective Time (the "**2023 Old Common Stock**") shall be combined and converted into one (1) share of Common Stock (the "**2023 New Common Stock**") based on a ratio of one share of 2023 New Common Stock for each one hundred shares of 2023 Old Common Stock (the "**2023 Reverse Split Ratio**"). This reverse stock split (the "**2023 Reverse Split**") of the outstanding shares of Common Stock shall not affect the total number of shares of capital stock, including the Common Stock, that the Company is authorized to issue, which shall remain as set forth under this Article Fourth.

The 2023 Reverse Split shall occur without any further action on the part of the Corporation or the holders of shares of 2023 New Common Stock and whether or not certificates representing such holders' shares prior to the 2023 Reverse Split are surrendered for cancellation. No fractional interest in a share of 2023 New Common Stock shall be deliverable upon the 2023 Reverse Split, all of which shares of 2023 New Common Stock be rounded up to the nearest whole number of such shares. All references to "Common Stock" in this Certificate of Incorporation shall be to the 2023 New Common Stock.

The 2023 Reverse Split will be effectuated on a stockholder-by-stockholder (as opposed to certificate-by-certificate) basis, except that the 2023 Reverse Split will be effectuated on a certificate-by-certificate basis for shares held by registered holders. For shares held in certificated form, certificates dated as of a date prior to the 2023 Effective Time representing outstanding shares of 2023 Old Common Stock shall, after the 2023 Effective Time, represent a number of shares of 2023 New Common Stock as is reflected on the face of such certificates for the 2023 Old Common Stock, divided by the 2023 Reverse Split Ratio and rounded up to the nearest whole number. The Corporation shall not be obligated to issue new certificates evidencing the shares of 2023 New Common Stock outstanding as a result of the 2023 Reverse Split unless and until the certificates evidencing the shares held by a holder prior to the 2023 Reverse Split are either delivered to the Corporation or its transfer agent, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates."

FOURTH: This Certificate of Amendment was duly adopted in accordance with the provisions of Sections 212 and 242 of the General Corporation Law of the State of Delaware.

FIFTH: This Certificate of Amendment shall be effective as of 5:00 p.m. New York Time on the date written below.

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be signed by its officer thereunto duly authorized this 26<sup>th</sup> day of January, 2023.

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| | |
|:---|:---|
| **WISA TECHNOLOGIES, INC.** | **WISA TECHNOLOGIES, INC.** |
| By: | /s/ Brett Moyer |
|  | *Brett Moyer, Chairman and Chief Executive Officer* |

---

## Exhibit 99.1

**Exhibit 99.1**

![](tm234521d1_ex99-1img001.jpg)

**WiSA Technologies Announces Reverse Stock Split**

**BEAVERTON, OR — (** **January 26, 2023)—** WiSA Technologies, Inc. (the "Company") (Nasdaq: WISA), a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, today announced that on January 24, 2023 the Company's Board of Directors approved a 1-for-100 reverse split (the "Reverse Stock Split") of the Company's common stock (the "Common Stock"). On January 26, 2023, the Company filed a certificate of amendment to the Company's certificate of incorporation, as amended, with the Secretary of State of the State of Delaware to effect the Reverse Stock Split as of 5:00 p.m. Eastern Time on that date. On January 26, 2023, the Common Stock will begin trading on the Nasdaq Capital Market ("Nasdaq") on a split-adjusted basis at the start of trading on January 27, 2023 and will have a new CUSIP number of 86633R302.

**Information to Stockholders**

VStock Transfer, LLC, the Company transfer agent, will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for Common Stock. Stockholders who hold their shares of Common Stock in book-entry form or in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares of Common Stock following the Reverse Stock Split. VStock Transfer, LLC may be reached for questions at (212) 828-8436.

**About WiSA Technologies, Inc.**

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, OR.

**Safe Harbor Statement**

This press release contains forward-looking statements, which are not historical facts, 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. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions and include statements regarding the expected closing date of the offering. 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 including, but not limited to, the effective date for the Reverse Stock Split, the date that trading of the New Common Stock will begin on a split-adjusted basis, the Company's ability to regain compliance with the Nasdaq Listing Standards and maintain the listing of its securities on Nasdaq, which may cause the Company's actual results, and other risks impacting WiSA Technologies' business, such as, current macroeconomic uncertainties associated with the COVID-19 pandemic, WiSA Technologies' ability to predict the timing of design wins entering production and the potential future revenue associated with WiSA Technologies' design wins; WiSA Technologies' rate of growth; WiSA Technologies' ability to predict customer demand for its existing and future products and to secure adequate manufacturing capacity; consumer demand conditions affecting WiSA Technologies' customer's end markets; WiSA Technologies' 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 as more fully described in the section titled "Risk Factors" in the registration statement related to the offering. There is no guarantee that Company will be able to regain compliance with the Nasdaq minimum bid requirement and even if it is able to regain compliance that it will maintain compliance over a sustained period. The information in this press release is provided only as of the date of this press release, and WiSA Technologies undertakes no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law. WiSA Technologies disclaims any obligation to update these forward-looking statements.

**<u>Contact Information</u>**

David Barnard, LHA Investor Relations, (415) 433-3777, <u>wisa@lhai.com</u>