11/03/2025 | Press release | Distributed by Public on 11/03/2025 16:01
Item 1.02 Termination of a Material Definitive Agreement.
As previously disclosed, on July 13, 2025, Datavault AI Inc., a Delaware corporation (the "Company"), entered into a Stock Purchase Agreement (the "Purchase Agreement"), by and among the Company, API Media Innovations Inc., a New Jersey corporation ("API Media") and David Reese and Frank Tomaino (Mr. Tomaino together with Mr. Reese, the "Sellers" and each a "Seller"), pursuant to which, the Company agreed to purchase from the Sellers all of the issued and outstanding shares of capital stock of API Media upon the terms and subject to the conditions set forth in the Purchase Agreement.
On October 28, 2025, the Company, API and the Sellers executed a mutual written consent to terminate the Purchase Agreement, effective immediately. The termination of the Purchase Agreement did not cause the Company to incur any material early termination penalties.
The foregoing summary of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which was filed as an exhibit to the Company's Current Report on Form 8-K filed on July 17, 2025, and is incorporated by reference herein.