Datavault AI converts $13.3 million in convertible debt

Datavault AI Inc. (NASDAQ: DVLT) announced the full conversion of certain long-term notes with an aggregate original face value of $13.3 million, according to a press release statement.

Brett Moyer, the company's Chief Financial Officer, said the debt conversion represents a strategic milestone that supports the launch of independent data exchanges and development of supercomputing capabilities in cooperation with IBM.

The Beaverton, Oregon-based company previously announced on September 25 that it secured a $150 million strategic equity investment in Bitcoin from Nasdaq-listed biotech company Scilex (NASDAQ: SCLX).

Datavault AI describes itself as an AI-driven data monetization company that operates a cloud-based platform serving multiple industries including biotech, education, fintech, real estate, healthcare and energy. The company's operations include an Acoustic Science Division featuring patented audio technologies and a Data Science Division focused on data valuation and monetization solutions.

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