Datavault AI Inc. (Nasdaq: DVLT) announced that its board of directors has approved a rights offering to holders of its common stock and certain other company securities, with Moody Capital Solutions, Inc. serving as dealer manager.

The offering includes both Common Unit and Preferred Unit subscription rights, with a record date of October 9, 2026. Eligible holders will receive one Common Unit subscription right for each share of common stock held, and one Preferred Unit subscription right for each 100 shares held as of the record date.

Common Units are priced at $0.20 each and consist of one share of common stock, one Series A Right exercisable at $0.25 per share expiring six months after closing, and one Series B Right exercisable at $0.30 per share expiring twelve months after closing. The company expects to offer up to $50 million in Common Unit subscription rights.

Preferred Units are priced at $25.00 each and include one share of newly designated preferred stock, one Series 1 Right exercisable at $30.00 per share expiring six months after closing, and one Series 2 Right exercisable at $35.00 per share expiring twelve months after closing. The preferred stock carries a stated value and liquidation preference of $25.00 per share, ranks senior to common stock, and pays a cumulative annual dividend of $2.10 per share, payable semi-annually. The company expects to offer up to 3,000,000 Preferred Units, representing up to $75 million.

The company intends to apply to list the preferred stock on the Nasdaq Capital Market, though no assurance was given that any listing would be obtained. The preferred stock will not be convertible into common stock.

The subscription period is expected to last approximately 18 trading days from the offering's commencement. The company said it intends to use net proceeds for working capital, general corporate purposes, and potential strategic transactions or acquisitions.

The rights offering will be made pursuant to a shelf registration statement on Form S-3 filed with the SEC on March 20, 2026, and declared effective on March 25, 2026.