Wearable Devices raises $5 million through warrant inducement deal

Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW) announced a warrant inducement agreement with an institutional investor for $5.0 million in gross proceeds before fees and expenses.

The transaction involves the immediate exercise of existing warrants to purchase 2,904,499 ordinary shares at $1.73 per share. In exchange for exercising these warrants, the investor will receive new unregistered warrants to purchase up to 5,082,873 ordinary shares at an exercise price of $1.51 per share.

The new warrants will be exercisable immediately and expire five years from issuance. The transaction is expected to close on or about April 21, 2026, subject to customary closing conditions.

Wearable Devices plans to use the net proceeds for working capital and general corporate purposes. A.G.P./Alliance Global Partners serves as the exclusive financial advisor for the transaction.

The private placement will be conducted under an exemption from registration requirements of the Securities Act of 1933, using Section 4(a)(2) and Regulation D. The securities may not be offered or sold in the United States without an effective registration statement or applicable exemption.

Wearable Devices develops AI-powered touchless sensing wearables and operates through direct-to-consumer sales and enterprise licensing. The company's products include the Mudra Band and Mudra Link for gesture-based control of digital devices.

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