Wearable Devices Ltd. Ordinary Share - WLDS STOCK NEWS

Wearable Devices (Nasdaq: WLDS) will showcase its latest XR integration with Qualcomm Technologies at AWE 2024, held on June 18-20, 2024, in Long Beach, California. This collaboration combines Wearable Devices' neural input technology with Qualcomm's XR hardware and software to enhance user interaction and engagement in augmented and virtual environments. Attendees can experience live demos at Qualcomm's booth, highlighting various use cases like gaming and enterprise applications. CEO Asher Dahan emphasizes the partnership's potential to revolutionize immersive experiences.

Wearable Devices has successfully completed the first phase of integrating its Mudra Band technology with Qualcomm's Snapdragon Spaces™ XR Developer Platform. This development addresses the limitations of camera-based hand tracking in augmented and virtual reality (AR/VR) environments, providing an intuitive, gesture-based control system. The integration aims to enhance user experiences by offering a seamless and immersive digital interaction. Offir Remez, EVP of Business Development, emphasized that this collaboration paves the way for cost-effective, intuitive XR experiences for original equipment manufacturers.

Wearable Devices announced a $10 million Standby Equity Purchase Agreement with YA II PN, , managed by Yorkville Advisors Global.

The agreement allows YA to purchase the company's ordinary shares over a three-year period at a 3% discount of the lowest daily volume-weighted average price during a three-day trading period. The company received an initial $2 million pre-paid advance and can request more up to $3 million.

Funds raised will be used for working capital and general corporate purposes. The company is not obligated to use the full $10 million, and YA cannot hold more than 4.99% of the company’s share capital at any time.

Wearable Devices has released a detailed report by its XR team on the Mudra Band's neural technology, focusing on its role in enhancing XR devices like Apple Vision Pro and Meta Quest 3. The report highlights the Mudra Band's precision in measuring fingertip pressure through SNC sensors, offering a new standard in gesture control. It emphasizes the shift from camera-based to neural input wristbands, providing intuitive and fine-grained control for smart glasses. The technology promises enhanced user experience, lower weight, and computational efficiency. Key advantages include improved accessibility and vast applications across various fields.

Wearable Devices (Nasdaq: WLDS), a tech growth company focused on AI-powered touchless sensing wearables, announced the successful delivery of a custom solution to a leading global defense company. This marks the completion of the third phase of their proof of concept (POC) project. The collaboration, aimed at integrating Wearable Devices' neural gesture technology into defense applications, confirms the potential of their Mudra technology for silent activation in defense-grade scenarios. The defense company plans to showcase this solution at an internal exhibition on operational technologies, highlighting its feasibility and innovation.

Wearable Devices (Nasdaq: WLDS, WLDSW), a tech company specializing in AI-powered touchless sensing wearables, has secured a patent in China. The patent, No. CN107589782, titled 'Method and Apparatus for a Gesture Controlled Interface for Wearable Devices,' enhances the company's intellectual property portfolio in the Eastern markets. This innovative interface, using a wrist-worn band, detects hand gestures with a focus on pressure-based interactions. Chief Scientist Guy Wagner stated that expanding the patent portfolio globally will help in collaborating with global partners and advancing their AI-enabled sensor technology.

Wearable Devices has been selected to present its gesture control technology at the Samsung Global Sourcing Fair in South Korea. This opportunity allows the company to showcase its innovative AI-powered touchless sensing wearables to Samsung's senior management and key stakeholders. The event aims to boost the company's visibility, explore collaborations, and integrate solutions with the global brand. Wearable Devices will introduce its seamless gesture technology that enables users to control digital devices through natural finger movements, showcasing the practical applications and consumer readiness of the technology.

Wearable Devices partners with Webidoo for the retail rollout of the Mudra Band, a touchless sensing device for Apple Watches. The collaboration includes featuring the product at Webidoo Store in Milano, Italy, and making it available online. This partnership highlights the innovative nature of the Mudra Band and Webidoo Store's commitment to delivering cutting-edge technology to consumers.

Wearable Devices has been granted a 180-day extension by Nasdaq to regain compliance with the minimum bid price rule. The company must meet the $1.00 bid price per share requirement to avoid potential delisting. Nasdaq's decision is based on the company's meeting of other listing requirements. The company's ordinary shares will remain listed on the Nasdaq Capital Market under the symbol 'WLDS' during this compliance period.