Wearable Devices Secures $2.4 Million Through Warrant Exercise Agreement

Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW), a leader in AI-based gesture control technology, has announced a significant financial move by entering into a warrant inducement agreement with an existing institutional investor. This agreement allows for the immediate exercise of warrants to purchase up to 1,661,000 ordinary shares at $1.45 per share, resulting in approximately $2.4 million in gross proceeds. In a strategic exchange, the investor will receive 3,322,000 new unregistered warrants through a private placement, which are exercisable at $1.71 per share upon shareholder approval. The company has stated that the net proceeds from this transaction will be allocated towards working capital and general corporate purposes, with the closing expected around August 7, 2025, pending customary conditions.

This financial maneuver underscores Wearable Devices' commitment to advancing its pioneering human-computer interaction technologies. The company's products, including the Mudra Band and Mudra Link, leverage proprietary sensors, software, and advanced AI algorithms to enable touch-free, intuitive control of digital devices across various operating systems. These innovations are setting new standards in the neural input category for wrist-worn devices and brain-computer interfaces, catering to both consumer and enterprise markets. For more details on the company's groundbreaking work, visit https://ibn.fm/0VdPl.

The agreement not only provides Wearable Devices with essential funding but also reflects the confidence of institutional investors in the company's growth trajectory and technological advancements. By focusing on seamless, natural user experiences, Wearable Devices is positioning itself at the forefront of some of the fastest-growing tech markets, including gaming, productivity, and extended reality (XR). The company's dual-channel model, which includes direct-to-consumer sales and enterprise licensing, further amplifies its impact across diverse sectors. For ongoing updates and news related to Wearable Devices, investors and interested parties can refer to the company's newsroom at https://ibn.fm/WLDS.