Datavault AI has agreed to acquire BankWyse, a Wyoming banking institution, for approximately $22 million ($14.66 million in stock and $7.34 million in cash), with up to an additional $10 million contingent on milestone achievement. The company also committed to providing BankWyse with $35 million for capitalization and operations, following a schedule of $5 million at closing and incremental payments through the eighth month. Datavault reported only $1.4 million in cash as of June 30, while the transaction requires at least $12.34 million at closing, and management warned that existing resources were insufficient to fund the next 12 months. Wyoming Division of Banking approval remains a condition, and as of August 20, no public SEC filing confirmed regulatory approval, a deadline extension, or closing of the transaction.
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