Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW), a leader in AI-based gesture control technology, has announced a significant financial move with a warrant inducement transaction. The company has agreed with an existing institutional investor for the immediate exercise of warrants to purchase up to 1,661,000 ordinary shares at $1.45 per share. This transaction is expected to generate approximately $2.4 million in gross proceeds. In return, the investor will receive 3,322,000 new unregistered warrants in a private placement, exercisable at $1.71 per share upon shareholder approval.
The net proceeds from this transaction are earmarked for working capital and general corporate purposes, underscoring the company's commitment to advancing its innovative technologies. The closing of this transaction is anticipated on or about August 7, 2025, subject to customary closing conditions. This development is a testament to the confidence investors have in Wearable Devices Ltd.'s potential to revolutionize human-computer interaction through its AI-powered neural input touchless technology.
Wearable Devices Ltd. is at the forefront of defining the neural input category with its consumer products, the Mudra Band and Mudra Link. These products enable touch-free, intuitive control of digital devices using gestures across multiple operating systems, catering to both the consumer and enterprise sectors. The company's dual-channel model of direct-to-consumer sales and enterprise licensing and collaborations positions it uniquely in the fast-growing tech markets of gaming, productivity, and extended reality (XR).
For more details on this transaction and Wearable Devices Ltd.'s innovative technologies, visit https://ibn.fm/0VdPl. This move not only provides the necessary capital for the company's growth but also highlights the increasing importance of AI and gesture control technologies in shaping the future of digital interaction.
