8-K

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): October 3, 2023

WISA TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-38608	30-1135279
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

15268 NW Greenbrier Pkwy 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:

Title of each class	Trading symbol(s)	Name of each exchange on which 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 x

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 7.01 Regulation FD Disclosure

On October 3, 2023, WiSA Technologies, Inc. (the “Company”) presented at the LD Micro Main Event Conference. Attached as Exhibit 99.1 to this Current Report on Form 8-K (“Form 8-K”) and incorporated into this Item 7.01 by reference is a copy of the presentation materials used by the Company during the conference.

Additionally, on October 3, 2023, the Company issued a press release announcing the offer of a free lisense to WiSA E software to all WiSA Association display members as of December 31, 2023, by its subsidiary, WiSA Association. Attached as Exhibit 99.2 to this Form 8-K and incorporated into this Item 7.01 by reference is a copy of the press release.

The information contained in this Form 8-K provided under Item 7.01 and Exhibits 99.1 and Exhibit 99.2 attached hereto are furnished to, but shall not be deemed filed with, the U.S. Securities and Exchange Commission or incorporated by reference into the Company’s filings under the Securities Act of 1933, as amended , or the Securities Exchange Act of 1934, as amended.

Item 8.01. Other Information.

On October 3, 2023, the Company issued a press release describing its business updates, including operational and licensing milestones as well as cost cutting initiatives. Attached as Exhibit 99.3 to this Form 8-K and incorporated into this Item 8.01 by reference is a copy of the press release.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Presentation Materials.
99.2	Press Release, dated October 3, 2023 (WiSA E Software Licensing).
99.3	Press Release, dated October 3, 2023 (Business Update).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

Date: October 3, 2023	WISA TECHNOLOGIES, INC.
	By:	/s/ Brett Moyer
			Brett Moyer
			President and Chief Executive Officer

EX-99.1

Exhibit 99.1 

High - quality Wireless Spatial Audio WiSA Technologies, Inc. LD Micro Conference October 3, 2023

Forward Looking Statements This presentation of WiSA Technologies, Inc . (NASDAQ : WISA) (the “Company” or “ WiSA ”) contains forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended, and Section 21 E of the Securities Exchange Act of 1934 , as amended . These forward - looking statements, include, among others, information concerning our business opportunities, prospects and strategy, product releases, and planned expense reductions . 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 impacting WiSA’s business including, risks related to our current liquidity position and the need to obtain additional financing to support ongoing operations, current macroeconomic uncertainties associated with the COVID - 19 pandemic, our inability to predict or measure supply chain disruptions resulting from the COVID - 19 pandemic and other drivers, our ability to predict the timing of design wins entering production and the potential future revenue associated with design wins ; rate of growth ; the ability to predict customer demand for existing and future products and to secure adequate manufacturing capacity ; consumer demand conditions affecting customers’ end markets ; the 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 detailed from time to time in the Company’s filings with the Securities and Exchange Commission . The information in this presentation is as of the date hereof and the Company undertakes no obligations to update unless required to do so by law . * WiSA Ready TVs, gaming PCs and console systems are "ready" to transmit audio to WiSA Certified speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs . © SoundSend , The WiSA logo, WiSA , WiSA Ready, and WiSA Certified are trademarks, or certification marks of WiSA LLC . Third - party trade names, trademarks and product names are the intellectual property of their respective owners and product names are the intellectual property of their respective owners .

What is Multi - Channel Spatial Audio? 3 Spatial audio refers to an audio experience that uses multiple and separate channels of audio played back on multiple discrete speakers to create an immersive audio experience that leverages a 360 - degree space WiSA powers a wireless spatial audio experience , enabling the transmission of multi - channel, high - bitrate, uncompressed audio streams to deliver an immersive spatial audio experience without the need for a traditional wired solution

Where Does WiSA Fit Into the Spatial Audio Ecosystem? 4 Standard for Interbrand connectivity vs proprietary solutions like Sonos/Roku Content Publishing and Distribution Spotify, Tencent, Amazon, YouTube, etc. Infrastructure and Connectivity Wi - Fi network Spatial Audio Decode Dolby Atmos, DTS - X, Spatial Ecosystem Requirements for Spatial Audio Wireless Interoperability Standard Precise synchronization across multiple disparate speakers to create spatial audio sound fields Seamless mix and match of audio sources and speakers / headsets as desired Guaranteed wireless link reliability Ability to transmit multi - channel, high - bitrate audio streams Extremely low latency Wireless Transport

Blue - Chip Customer Base 5 CONFIDENTIAL

Bringing Spatial Audio to the Mass Markets 2015 – 2021 2022 2023 2024 Proprietary Wireless Wi - Fi Compatible (RTOS, Linux) WiSA HT (Home Theater) WiSA DS (Discrete Systems) WiSA E (Embedded Modules) WiSA E (Embedded Software) Enter the marketplace by selling audiophile quality chips to early adopters within high - end audio Leverage success in high - end market to gain mass market adoption through deployment of low - cost IoT modules Establish WiSA as the standard for wireless spatial audio; become natively embedded in OEM SoCs ▪ 5GHz with DFS support ▪ 8 channels ▪ Fix Ultra low latency (5ms) ▪ Tight speaker sync ▪ 24 - bit audio ▪ Up to 96KHz sample rates ▪ Low - cost 2.4GHz IoT transceiver ▪ (4+Sub) audio channels ▪ Fixed transport latency (40ms) ▪ Tight speaker sync ▪ 16 - bit audio ▪ 48KHz sample rate ▪ Spatial audio support (audio plus data) ▪ 5GHz IoT transceiver ▪ 6 audio channels (future 8 - 10) ▪ Fixed transport latency (20ms) ▪ Tight speaker sync ▪ 24 - bit audio ▪ up to 192KHz sample rate ▪ Spatial audio support (audio plus data) ▪ 5GHz IoT transceiver ▪ 6 audio channels (future 8 - 10) ▪ Fixed transport latency (20ms) ▪ Tight speaker sync ▪ 24 - bit audio ▪ up to 192KHz sample rate ▪ Spatial audio support (audio plus data) WiSA’s vision is to become the spatial audio standard across the audio marketplace and become natively embedded in OEM SoCs Embedded Software 1B Unit TAM 6

Multi - Faceted Spatial Audio Delivery Model 7 WiSA E Embedded TV / SoC ( WiSA software running on third - party chips and OEM hardware) Multiple Sources Multiple Outputs Smart speaker Embedded

Licensing Enables Broad Market Expansion Module Cost Feature set Low High Low High Soundbars, after - market accessories, Sub - woofers Home theater speakers, high - end TVs, dongles WiSA HT WiSA E Licensed product WiSA DS HDTVs Set - top boxes Soundbars Home theater speakers Smart speakers PCs/laptops Mobile phones TAM = 1B+ devices 8

WiSA E Opportunity: The Milestones • The July 25 th release announced critical software tools for large, multinational CE companies. These companies use multiple SoC chips in their TVs and soundbars. • The July 27 th release was the culmination of our design work and customer input when we announced shipping the development kits to strategic customers with WiSA E’s software. • The October 3 rd licensing release provided ultimate design flexibility to TV and projector brands. As software, WiSA E can be ported onto any display platform. WiSA E can also be implemented as a chip - on - board solution. 9

Near Term WiSA E Opportunity: The Economic Sizing • WiSA E is designed for high volume customers needing intra - brand operability and inter - brand WiSA E Certified interoperability. • In comparison, Sonos works with their branded products only and not with TVs or other brands of audio. • WiSA E can be implemented on a TV for wireless audio transmission • The 5 customers that received development kits represent 50% market share of soundbar market based on Future Source’s data with some customer input. • Each of the customers that has received our development kits has an opportunity to ship 1 million – 3 million WiSA E products per year, which is a potential revenue of $5M - $15M per year per customer. 10

Licensing WiSA E Into TV Royalty Free 11 Dominate the link between TV and external audio (soundbars and speakers) Extend TV Success to other smart devices like set top boxes, smart phones, smart speakers Eliminate cost redundance in the TV/soundbar architecture Driving Wireless Audio Interoperability between HDTVs, Soundbars and Speakers RX software and hardware/modules Custom work for non - WiSA E implementations License includes WiSA E interoperability specifications and software Annual support contracts NRE for custom SoCs Long term revenue opp. Multiple Outputs Smart speaker Strategy Multiple Sources

Expense Reductions • Non - engineering expenses in G&A and S&M • Impact of re - alignment will begin in Q4 2023 • Expect to achieve cash savings of about $0.9 million in Q1 2024 and about $4 million total in 2024 as compared to 2023 Balance Sheet • At June 30, 2023 -- $2.0M cash • In July, received $0.7M in gross proceeds from warrant exercise • In September, received $0.6M in net proceeds from term loan Operational Update – Lowering Cash Burn 12 □ Implementing near term cost reductions □ Focused on achieving operational milestones □ Positioned to capitalize on realizing value of intellectual property

Key Highlights World - class premium technology porte d to low - cost IoT chips to address mass market audio systems with software roadmap to address TAM of over 2 billion units 3 Establishment and management of the Wireless Speaker and Audio Association ( WiSA , LLC) with interoperability specification, testing, and compliance standard 4 30+ brands have designed WiSA technologies into their products 5 WiSA E market opportunity to unify market for wireless audio solutions for TVs and soundbars that is software based and interoperable 2 Strong IP position and significant patent coverage for immersive audio, with highly - differentiated multichannel wireless audio technology and existing implementations in premium audio brands 1 13

WiSA and Platin Audio

EX-99.2

Exhibit 99.2

 

WiSA Association Continues its Leadership Position Driving Wireless Audio Interoperability between HDTVs, Soundbars and Speakers

Association offers display members a free license to WiSA E wireless multichannel audio transport software to build certified WiSA E-interoperable transmitter sources

Beaverton, Ore.--(October 3, 2023)-- WiSA Association, a subsidiary of WiSA Technologies, Inc. (NASDAQ: WISA), continues to lead the wireless multichannel audio industry forward by offering a free license to WiSA E software to all WiSA Association display (HDTV and projector) members as of December 31, 2023. The license allows display members to implement WiSA E wireless immersive audio transmitter technology in any or all of their display platforms. With WiSA E, brands can provide consumers a range of wireless audio options, including support for Dolby Atmos(r) and FlexConnect and full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands.

“WiSA Association members are clamoring for the next big leap in immersive audio,” said Tony Ostrom, president of the WiSA Association. “To support our members and propel our mission of building an ecosystem of interoperable wireless audio brands, the WiSA Association has negotiated a free license to WiSA E transmit technology for our display brands. This is a huge win for these members, their consumers and retailers, and the future of the audio industry.”

WiSA E is a powerful and versatile software-based wireless audio technology that can be implemented in a number of ways, from entry-level 2-channel functionality up to 8 full channels, giving ultimate design flexibility to TV and projector brands. As software, WiSA E can be ported onto any display platform. WiSA E can also be implemented as a chip-on-board solution.

“Our goal is to provide our display members with optionality,” said Ostrom. “At the close of this year, any display member can take advantage of this program and know they have the ability to offer WiSA E wireless transmit technology to their customers royalty-free.”

The WiSA Association includes more than 70 leading speaker and HDTV brands focused on growing the wireless immersive audio ecosystem by providing stunning immersive audio experiences to consumers at all price points. All display brands are encouraged to join the association to take advantage of this program. A WiSA E software port to any display platform will be demonstrated at CES 2024.

For more information about the WiSA Association’s WiSA E licensing program, contact Tony Ostrom, president of the WiSA Association at tostrom@wisatechnologies.com.

Find out more about the WiSA Association at www.wisatechnologies.com.

About the WiSA Association

WiSA® educates, evangelizes and promotes solutions for spatial audio in the home. Working in collaboration with technology developed by WiSA Technologies, Inc., WiSA Association engages with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to make immersive audio an experience everyone can enjoy. WiSA, LLC - the Wireless Speaker and Audio Association - is a wholly owned subsidiary of WiSA Technologies, Inc. For more information about WiSA, please visit: www.wisatechnologies.com.

About WiSA Technologies, Inc.

WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA™ (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, OR with sales teams in Taiwan, China, Japan, Korea, and California.

© 2023 WiSA Technologies, Inc. All rights reserved. WiSA Technologies, Inc. and the WiSA Technologies, Inc. logo are trademarks of WiSA Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.

 

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, including among others, information concerning product development and product release. 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. Such forward-looking statements, including statements herein regarding revenue growth, production, stores and launches, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, 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 impacting WiSA Technologies’ business, including risks related to our current liquidity position, the need to obtain additional financing to support ongoing operations, the interoperability of WiSA E software, current macroeconomic uncertainties associated with the COVID-19 pandemic; our inability to predict or measure supply chain disruptions resulting from the COVID-19 pandemic and other drivers; our ability to predict the timing of design wins entering production and the potential future revenue associated with our design wins; our success in porting WiSA E software to various platforms; our rate of growth; our ability to predict direct and indirect customer demand for our existing and future products and to secure adequate manufacturing capacity; our ability to hire, retain and motivate employees; the effects of competition, including price competition within our industry segment; technological, regulatory and legal developments that uniquely or disproportionately impact our industry segment; developments in the economy and financial markets and other risks detailed from time to time in WiSA Technologies’ filings with the Securities and Exchange Commission.

EX-99.3

Exhibit 99.3

WiSA Technologies Provides Business Update

- Focuses on operational and licensing milestones –

- Plans to lower cash burn in 2024 with reductions in SG&A expenses -

BEAVERTON, OR — (October 3, 2023) — WiSA Technologies, Inc. (Nasdaq: WISA), a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, provided a business update that focuses on achieving key milestones and reducing total SG&A expenses leading into 2024.

“Leading into 2024, we are positioned to capitalize on our extensive investment in intellectual property,” said Brett Moyer, CEO, President, and Chairman of WiSA Technologies. “WiSA E development kits began shipping to strategic customers in July 2023, and today we rolled out our licensing plan for WiSA E software, which will drive wireless interoperability between HDTVs, soundbars and speakers. Our strategy is to dominate the link between TV and external audio by eliminating cost redundancy while leveraging this position with other smart devices, and we expect to achieve strategic milestones that provide visibility into multiple customers and revenue streams in 2024.”

“While we are focused on achieving strategic operational objectives to drive long term growth from new products, we recognize there has been a prolonged challenging industry and capital markets environment. Accordingly, we have initiated expense reductions in SG&A that we expect will lower our cash expenses, albeit while retaining ongoing investments in R&D. The impact of this re-alignment will begin in Q4 2023 and be more fully realized in 2024 as we expect to achieve cash savings of about $0.9 million in Q1 2024 and about $4 million total in 2024 as compared to 2023,” added Moyer.

Concluded Moyer: “At present, we are prioritizing our WiSA E platform, and we are focused on operational and financial milestones that will demonstrate the platform’s efficacy at CES 2024 and believe that our product and strategic refocus coupled with our targeted expense reductions will position us to for an exceptionally productive CES 2025.”

About WiSA Technologies, Inc.

WiSA Technologies (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. For more information, please visit: www.wisatechnologies.com

© 2023 WiSA Technologies Inc. All rights reserved. WiSA Technologies Inc. and the WiSA Technologies Inc. logo are trademarks of WiSA Technologies Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.

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. Such forward-looking statements, including statements herein regarding our business opportunities, prospects and strategy, as well as planned expense reductions, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. 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 risks related to our current liquidity position, the need to obtain additional financing to support ongoing operations, the interoperability of WiSA E software, current macroeconomic uncertainties associated with the COVID-19 pandemic; our inability to predict or measure supply chain disruptions resulting from the COVID-19 pandemic and other drivers; our ability to predict the timing of design wins entering production and the potential future revenue associated with our design wins; our success in porting WiSA E software to various platforms; our rate of growth; our ability to predict direct and indirect customer demand for our existing and future products and to secure adequate manufacturing capacity; our ability to hire, retain and motivate employees; the effects of competition, including price competition within our industry segment; technological, regulatory and legal developments that uniquely or disproportionately impact our industry segment; developments in the economy and financial markets and other risks detailed from time to time in WiSA Technologies’ filings with the Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and WiSA 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 disclaims any obligation to update these forward-looking statements.

Contact Information

David Barnard, LHA Investor Relations, 415-433-3777, wisa@lhai.com

XML

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Cover [Abstract]
Document Type	8-K
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Document Period End Date	Oct. 03, 2023
Entity File Number	001-38608
Entity Registrant Name	WISA TECHNOLOGIES, INC.
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Entity Tax Identification Number	30-1135279
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	15268 NW Greenbrier Pkwy
Entity Address, City or Town	Beaverton
Entity Address, State or Province	OR
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City Area Code	408
Local Phone Number	627-4716
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Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	WISA
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false