Datavault AI Inc.
For the period ended Dec 31, 2025. Filed Mar 18, 2026.
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FY2025 · Filed Mar 18, 2026
DVLT$0.06+3.5%Stored close · as of Nov 10, 2026
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Item 15. Exhibits and Financial Statement Schedules
| Item 15. | Exhibits and Financial Statement Schedules. |
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| (a) | The following documents are filed as part of this Report: |
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(1)Financial Statements:
The audited consolidated balance sheets of the Company as of December 31, 2025 and 2024, the related consolidated statements of operations, comprehensive loss, convertible preferred stock and stockholders’ equity and cash flows for each of the two years in the period ended December 31, 2025 and 2024, the footnotes thereto, and the respective report of BPM LLP, an independent registered public accounting firm, are filed herewith.
(2)Financial Schedules:
None.
Financial statement schedules have been omitted because they are either not applicable or the required information is included in the consolidated financial statements or notes hereto.
(3)Exhibits:
The exhibits listed in the accompanying index to exhibits are filed or incorporated by reference as part of this Report.
| (b) | The following are exhibits to this Annual Report on Form 10-K and, if incorporated by reference, we have indicated the document previously filed with the SEC in which the exhibit was included. |
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Certain of the agreements filed as exhibits to this Annual Report on Form 10-K contain representations and warranties by the parties to the agreements that have been made solely for the benefit of such parties. These representations and warranties:
| ● | may have been qualified by disclosures that were made to the other parties in connection with the negotiation of the agreements, which disclosures are not necessarily reflected in the agreements; |
| ● | may apply standards of materiality that differ from those of a reasonable investor; and |
| ● | were made only as of specified dates contained in the agreements and are subject to subsequent developments and changed circumstances. |
Accordingly, these representations and warranties may not describe the actual state of affairs as of the date that these representations and warranties were made or at any other time. Investors should not rely on them as statements of fact.
| Exhibit No. | | Description of Exhibits |
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| 2.1 | Certificate of Conversion of Summit Semiconductor, LLC (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 23, 2018). | |
| 2.2 | Plan of Conversion of Summit Semiconductor, LLC (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 23, 2018). | |
| 3.1(i)(a) | Certificate of Incorporation of Summit Semiconductor, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 2, 2018). | |
| 3.1(i)(b) | Certificate of Amendment to Certificate of Incorporation of Summit Semiconductor, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 25, 2018). | |
| 3.1(i)(c) | Certificate of Amendment to Certificate of Incorporation of Summit Semiconductor, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 14, 2018). | |
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| 3.1(i)(d) | | Certificate of Amendment to Certificate of Incorporation of Summit Wireless Technologies, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on April 8, 2020). |
| Exhibit No. | | Description of Exhibits |
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| 3.1(i)(e) | Certificate of Amendment to Certificate of Incorporation of Summit Wireless Technologies, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on March 11, 2022). | |
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| 3.1(i)(f) | | Certificate of Amendment to Certificate of Incorporation of WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on January 26, 2023). |
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| 3.1(i)(g) | | Certificate of Amendment to Certificate of Incorporation of WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on March 26, 2024). |
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| 3.1(i)(h) | | Certificate of Amendment to Certificate of Incorporation of WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on April 12, 2024). |
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| 3.1(i)(i) | | Certificate of Amendment to Certificate of Incorporation of WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on February 14, 2025). |
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| 3.1(i)(j) | | Certificate of Amendment to Certificate of Incorporation of Datavault AI Inc. (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 26, 2025). |
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| 3.1(i)(k) | | Certificate of Amendment to Certificate of Incorporation of Datavault AI Inc. (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on November 26, 2025). |
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| 3.1(i)(l) | | Certificate of Designation of Preferences, Rights, and Limitations of Series B Convertible Preferred Stock (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 19, 2023). |
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| 3.1(ii)(a) | Bylaws of Summit Semiconductor, Inc. (n/k/a Datavault AI Inc.) (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 2, 2018). | |
| 3.1(ii)(b) | | Amendment to the Bylaws of Datavault AI Inc., effective September 25, 2025 (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed with the SEC on September 26, 2025). |
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| 4.1 | Form of Common Stock Certificate (incorporated by reference to the Company’s Annual Report on Form 10-K filed with the SEC on March 29, 2019). | |
| 4.2* | Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934. | |
| 4.3 | Form of Common Stock Purchase Warrant (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on June 8, 2021). | |
| 4.4 | Form of Restricted Stock Agreement for Directors under the WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) 2018 Long-Term Stock Incentive Plan (incorporated by reference to the Company’s Registration Statement on Form S-8 (File No. 333-265060) filed with the SEC on May 18, 2022). | |
| 4.5 | Form of Restricted Stock Agreement for Employees under the WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) 2018 Long-Term Stock Incentive Plan (incorporated by reference to the Company’s Registration Statement on Form S-8 (File No. 333-265060) filed with the SEC on May 18, 2022). | |
| 4.6 | | Form of Private Placement Warrant (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on February 3, 2023). |
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| 4.7 | | Form of Promissory Note (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on March 17, 2025). |
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| 4.8 | | Form of Senior Secured Convertible Note due October 5, 2026 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 4, 2025). |
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| 4.9 | | Form of 2025 Investor Warrant (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the SEC on April 4, 2025). |
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| 4.10 | | Initial Convertible Note, dated May 20, 2025 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on May 20, 2025). |
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| Exhibit No. | | Description of Exhibits |
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| 4.11 | | First Convertible Note, dated May 20, 2025 (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the SEC on May 20, 2025). |
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| 4.12 | | Second Convertible Note, dated May 20, 2025 (incorporated by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed with the SEC on May 20, 2025). |
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| 4.13 | | Convertible Promissory Note Amendment and Conversion Agreement by and between Datavault AI Inc. and EOS Technology Holdings Inc., dated as of September 7, 2025 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on September 8, 2025). |
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| 4.14 | | Form of Senior Secured Promissory Note issued on September 30, 2025 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 1, 2025). |
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| 4.15 | | Form of Warrant (dated as of February 27, 2026) (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on February 27, 2026). |
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| 10.1+ | | Summit Semiconductor, Inc. 2018 Long-Term Stock Incentive Plan (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 2, 2018). |
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| 10.2 | | Form of Indemnity Agreement by and between Summit Semiconductor, Inc., and each of its directors and executive officers (incorporated by reference to the Company’s Registration Statement on Form S-1/A (File No. 333-224267) filed with the SEC on July 2, 2018). |
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| 10.11 | | Lease Agreement by and between Portland 2 LLC and Summit Wireless Technologies, Inc. (n/k/a Datavault AI Inc.), dated August 18, 2020 (incorporated by reference to the Company’s Quarterly Report on Form 10-Q filed with the SEC on November 10, 2020). |
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| 10.12 | | Lease Agreement by and between Commerce Square Partners – Philadelphia Plaza, L.P. and Datavault AI Inc., dated November 6, 2025 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on November 7, 2025). |
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| 10.13* | | Summit Wireless Technologies, Inc. 2020 Stock Incentive Plan. |
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| 10.14 | | First Amendment to Lease Agreement by and between Portland 2 LLC and Summit Wireless Technologies, Inc. (n/k/a Datavault AI Inc.), dated May 23, 2023 (incorporated by reference to the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2025). |
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| 10.21+ | | Executive Employment Agreement, effective as of December 31, 2024, by and between WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) and Brett Moyer (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on January 7, 2025). |
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| 10.22+ | | Executive Employment Agreement, effective as of December 31, 2024, by and between WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) and Nathaniel Bradley (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on January 7, 2025). |
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| 10.23+ | | WiSA Technologies, Inc. Management Team Retention Bonus Plan, effective September 1, 2022 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 1, 2022). |
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| 10.24 | | Form of Warrant Agency Agreement (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on December 2, 2022). |
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| 10.25 | | Form of Asset Purchase Agreement, dated December 19, 2024, by and between WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) and CompuSystems, Inc. (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on December 26, 2024). |
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| Exhibit No. | | Description of Exhibits |
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| 10.26 | | Form of Amendment to Asset Purchase Agreement, dated December 30, 2024, by and between WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) and CompuSystems, Inc. (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2025). |
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| 10.27 | | Form of Second Amendment to Asset Purchase Agreement, dated February 25, 2025, by and between Datavault AI Inc. and CompuSystems, Inc. (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on February 28, 2025). |
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| 10.28 | | Third Amendment to Asset Purchase Agreement, by and between Datavault AI Inc. and CompuSystems, Inc., dated as of March 31, 2025 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on April 2, 2025). |
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| 10.29 | | Fourth Amendment to Asset Purchase Agreement, by and between Datavault AI Inc. and CompuSystems, Inc., dated as of May 14, 2025 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on May 15, 2025). |
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| 10.30 | | Form of Inducement Agreement, dated September 10, 2024, by and between WiSA Technologies, Inc. (n/k/a Datavault AI Inc.) and certain holders (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 10, 2024). |
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| 10.31 | | Securities Purchase Agreement, dated September 26, 2025, by and between Datavault AI Inc. and Scilex Holding Company (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on September 26, 2025). |
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| 10.32 | | Form of Senior Secured Convertible Note (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 4, 2025). |
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| 10.33 | | Form of Common Stock Purchase Warrant (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the SEC on April 4, 2025). |
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| 10.34 | | Placement Agency Agreement, dated as of March 31, 2025, by and between Datavault AI Inc. and Maxim Group LLC, as placement agent (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on March 31, 2025). |
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| 10.35 | | Datavault Lock-Up Agreement, dated April 9, 2025, by and between Datavault AI Inc. and NYIAX, Inc. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 14, 2025). |
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| 10.36 | | Additional Lock-Up Agreement, dated April 9, 2025, by and between Datavault AI Inc. and NYIAX, Inc. (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on April 14, 2025). |
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| 10.37 | | Consideration Lock-Up Agreement, dated April 9, 2025, by and between Datavault AI Inc. and NYIAX, Inc. (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the SEC on April 14, 2025). |
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| 10.38 | | Closing Lock-Up Agreement, dated April 9, 2025, by and between Datavault AI Inc. and NYIAX, Inc. (incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the SEC on April 14, 2025). |
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| 10.39 | | Purchase Commitment for Programs, effective as of June 30, 2025, by and between Datavault AI Inc. and International Business Machines Corporation (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 11, 2025). |
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| 10.40 | | Cloud Services Subscription Transaction Document, effective as of June 30, 2025, by and between Datavault AI Inc. and International Business Machines Corporation (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on July 11, 2025). |
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| Exhibit No. | | Description of Exhibits |
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| 10.41 | | Amendment to the IBM Embedded Software Agreement, dated September 22, 2025 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 26, 2025). |
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| 10.42 | | Stock Purchase Agreement, dated July 13, 2025, by and among Datavault AI Inc., API Media Innovations Inc., David Reese, and Frank Tomaino (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 17, 2025). |
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| 10.43 | | Amendment to Stock Purchase Agreement, dated August 19, 2025, by and among Datavault AI Inc., API Media Innovations Inc., David Reese, and Frank Tomaino (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on August 22, 2025). |
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| 10.44 | | Intellectual Property Sale and Assignment Agreement, dated July 12, 2025, by and between Datavault AI Inc. and Turner Global Media, LLC (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 17, 2025). |
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| 10.45 | | Equity Distribution Agreement, dated July 21, 2025, between Datavault AI Inc. and Maxim Group LLC (incorporated by reference to Exhibit 1.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 22, 2025). |
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| 10.46 | | Web Access IP Purchase Agreement, dated as of July 30, 2025, by and between Datavault AI Inc. and Web Access, LLC (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 30, 2025). |
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| 10.47 | | Registration Rights Agreement, dated as of July 30, 2025, by and between Datavault AI Inc., Web Access, LLC, and an affiliate (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on July 30, 2025). |
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| 10.48 | | Securities Purchase Agreement, dated March 31, 2025, by and among Datavault AI Inc. and the purchasers named therein, dated August 4, 2025 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on August 4, 2025). |
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| 10.49 | | Securities Purchase Agreement, dated March 31, 2025, by and among Datavault AI Inc. and the purchasers named therein, dated October 24, 2025 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 28, 2025). |
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| 10.50+* | | January 2, 2023 Amendment to Summit Semiconductor, Inc.’s 2018 Long-Term Stock Incentive Plan. |
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| 10.51+* | | February 25, 2024 Amendment to Summit Semiconductor, Inc.’s 2018 Long-Term Stock Incentive Plan. |
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| 10.52 | | Securities Purchase Agreement, dated March 31, 2025, by and among Datavault AI Inc. and the purchasers named therein (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 4, 2025). |
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| 10.53 | | Securities Purchase Agreement between Datavault AI Inc. and Scilex Holding Company, dated September 26, 2025 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 26, 2025). |
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| 10.54 | | Form of Voting Agreement (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on September 26,2025). |
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| 10.55 | | Form of Senior Secured Promissory Note issued on September 30, 2025 (incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 1, 2025). |
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| 10.56 | | Stock Purchase Agreement, by and among Datavault AI Inc., API Media Innovations Inc., David Reese, and Frank Tomaino, dated October 28, 2025 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on November 3, 2025). |
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| Exhibit No. | | Description of Exhibits |
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| 10.57 | | License Agreement, dated November 3, 2025, by and between Datavault AI Inc. and Scilex Holding Company (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on November 4, 2025). |
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| 19.1 | | Insider Trading Policy (incorporated by reference to the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2025). |
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| 21.1 | List of Subsidiaries (incorporated by reference to the Company’s Registration Statement on Form S-1 (File No. 333-239750) filed with the SEC on July 8, 2020). | |
| 23.1* | Consent of BPM LLP, Independent Registered Public Accounting Firm. | |
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| 31.1* | Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
| 31.2* | Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
| 32.1* | Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |
| 32.2* | Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |
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| 97.1+ | | Compensation Recovery Policy (incorporated by reference to the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2025). |
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| 101.INS | XBRL Instance Document | |
| 101.SCH | XBRL Taxonomy Schema | |
| 101.CAL | XBRL Taxonomy Calculation Linkbase | |
| 101.DEF | XBRL Taxonomy Definition Linkbase | |
| 101.LAB | XBRL Taxonomy Label Linkbase | |
| 101.PRE | XBRL Taxonomy Presentation Linkbase | |
| 104 | | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
| * | Filed or furnished herewith, as applicable. |
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| + | Indicates management contract or compensatory plan. |
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In accordance with SEC Release 33-8238, Exhibits 32.1 and 32.2 are being furnished and not filed.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.