Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW), a leader in AI-based gesture control technology, has announced a warrant inducement transaction with an existing institutional investor, aiming to generate approximately $2.4 million in gross proceeds. This strategic move involves the immediate exercise of warrants to purchase up to 1,661,000 ordinary shares at $1.45 per share, with the investor receiving 3,322,000 new unregistered warrants in return, exercisable at $1.71 per share upon shareholder approval.
The transaction, expected to close on or about August 7, 2025, subject to customary conditions, is a testament to the company's innovative approach to human-computer interaction. The net proceeds from this deal are earmarked for working capital and general corporate purposes, underscoring Wearable Devices' commitment to advancing its technology and market presence.
Wearable Devices Ltd. is at the forefront of the neural input category, with its Mudra Band and Mudra Link products leading the charge in touch-free, intuitive control of digital devices. These products, powered by proprietary sensors, software, and advanced AI algorithms, are redefining user experiences in gaming, productivity, and extended reality (XR) environments. The company's dual-channel model, combining direct-to-consumer sales with enterprise licensing and collaborations, positions it as a key player in some of the fastest-growing tech markets.
This financial infusion is not just a milestone for Wearable Devices but also a significant development for the tech industry at large. It highlights the growing importance of AI and gesture control technologies in shaping the future of human-computer interaction. For investors and tech enthusiasts alike, this transaction underscores the potential of Wearable Devices Ltd. to lead and innovate in the burgeoning field of neural input technologies.
For more details on this transaction, visit https://ibn.fm/0VdPl. Further information about Wearable Devices Ltd. and its groundbreaking technologies can be found in the company’s newsroom at https://ibn.fm/WLDS.
