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[SCHEDULE 13D] Datavault AI Inc. SEC Filing

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Form Type
SCHEDULE 13D

Scilex Holding Company (SHC) filed a Schedule 13D disclosing it directly acquired 15,000,000 shares of Datavault AI Inc. (DVLT), representing 8.03% of the outstanding common stock. The acquisition was part of a $150.0 million Securities Purchase Agreement in which SHC purchased 15.0 million shares at $0.5378 per share, paid in Bitcoin, at an initial closing on September 26, 2025. The agreement contemplates issuance, upon receipt of stockholder approval, of a pre-funded warrant exercisable for 263,914,094 shares for approximately $141.9 million with an exercise price of $0.0001 per share. The SPA requires Datavault to pursue stockholder approval through proxy or written consent and contains voting agreements from certain stockholders to support the proposed proposals.

Scilex Holding Company (SHC) ha presentato un Schedule 13D indicando di aver acquisito direttamente 15.000.000 azioni di Datavault AI Inc. (DVLT), pari al 8,03% delle azioni ordinarie in circolazione. L’acquisto è avvenuto nell’ambito di un Accordo di Acquisto di Titoli per $150,0 milioni in cui SHC ha acquistato 15,0 milioni di azioni a $0,5378 per azione, pagate in Bitcoin, con una chiusura iniziale il 26 settembre 2025. L’accordo prevede l’emissione, previo ottenimento dell’approvazione degli azionisti, di un warrant prefinanziato exercisable per 263.914.094 azioni per circa $141,9 milioni con un prezzo di esercizio di $0,0001 per azione. Lo SPA richiede a Datavault di perseguire l’approvazione degli azionisti tramite procura o consenso scritto e contiene accordi di voto di alcuni azionisti per sostenere le proposte proposte.

Scilex Holding Company (SHC) presentó un Schedule 13D en el que comunica haber adquirido directamente 15,000,000 acciones de Datavault AI Inc. (DVLT), que representan el 8,03% del capital social común en circulación. La adquisición formó parte de un Acuerdo de Compra de Valores por $150,0 millones, en el que SHC compró 15,0 millones de acciones a $0,5378 por acción, pagadas en Bitcoin, en un cierre inicial el 26 de septiembre de 2025. El acuerdo contempla la emisión, sujeto a la aprobación de los accionistas, de un warrant prefinanciado ejercitable por 263.914.094 acciones por aproximadamente $141,9 millones con un precio de ejercicio de $0,0001 por acción. El SPA exige que Datavault busque la aprobación de los accionistas mediante poder o consentimiento por escrito y contiene acuerdos de voto de ciertos accionistas para apoyar las propuestas propuestas.

Scilex Holding Company (SHC)는 Schedule 13D를 제출하여 Datavault AI Inc. (DVLT)의 15,000,000주를 직접 취득했으며, 이는 발행된 보통주 총수의 8.03%에 해당합니다. 이 인수는 SHC가 $150.0백만의 증권매매계약(SPA)의 일부로 15.0백만주를 주당 $0.5378에 비트코인으로 지급하며, 초기 종결일은 2025년 9월 26일입니다. 이 계약은 주주 승인을 받으면 263,914,094주에 대해 행사할 수 있는 사전자금 워런트를 발행하는 것을 contemplated하고 있으며, 행사가는 주당 $0.0001입니다. SPA는 Datavault가 주주 승인을 위한 위임장 또는 서면 동의를 추구하도록 요구하며, 특정 주주의 투표 동의도 제안된 제안을 지지하기 위한 조항으로 포함되어 있습니다.

Scilex Holding Company (SHC) a déposé un Schedule 13D indiquant qu’elle a directement acquis 15 000 000 actions de Datavault AI Inc. (DVLT), représentant 8,03% des actions ordinaires en circulation. Cette acquisition fait partie d’un accord d’achat de titres d’un montant de $150,0 millions, dans lequel SHC a acheté 15,0 millions d’actions à $0,5378 par action, payées en Bitcoin, à une clôture initiale le 26 septembre 2025. L’accord prévoit l’émission, sous réserve de l’approbation des actionnaires, d’un warrant préfinancé exerçable sur 263 914 094 actions pour environ $141,9 millions avec un prix d’exercice de $0,0001 par action. Le SPA oblige Datavault à obtenir l’approbation des actionnaires par procuration ou consentement écrit et contient des accords de vote de certains actionnaires pour soutenir les propositions proposées.

Scilex Holding Company (SHC) hat eine Schedule 13D eingereicht und offengelegt, dass sie direkt 15.000.000 Aktien von Datavault AI Inc. (DVLT) erworben hat, was 8,03% des ausstehenden Stammkapitals entspricht. Der Erwerb erfolgte im Rahmen eines Securities Purchase Agreement über $150,0 Millionen, in dem SHC 15,0 Millionen Aktien zu $0,5378 pro Aktie erwarb, gezahlt in Bitcoin, bei einem ersten Closing am 26. September 2025. Das Abkommen sieht die Ausgabe, vorbehaltlich der Zustimmung der Aktionäre, eines vorkonfigurierten Warrants vor, der für 263.914.094 Aktien zu ca. $141,9 Millionen ausübbar ist, mit einem Ausübungspreis von $0,0001 pro Aktie. Der SPA verlangt von Datavault, die Zustimmung der Aktionäre durch Vollmacht oder schriftliche Zustimmung zu suchen, und enthält Stimmrechtsvereinbarungen bestimmter Aktionäre zur Unterstützung der vorgeschlagenen Vorschläge.

قدمت شركة Scilex Holding Company (SHC) نموذج Schedule 13D مُعلنةً عن استحواذها المباشر على 15,000,000 سهماً من Datavault AI Inc. (DVLT)، أي 8.03% من أسهمها العادية القائمة. كان الاستحواذ جزءاً من اتفاقية شراء أوراق مالية بقيمة $150.0 مليون اشترت بموجبها SHC 15.0 مليون سهم بسعر $0.5378 للسهم، مدفوعة بالبيتكوين، في إغلاق ابتدائي في 26 سبتمبر 2025. وتتضمن الاتفاقية إصداراً، عند تلقي موافقة المساهمين، لسندات مبدئية قابلة للممارسة لـ 263,914,094 سهمًا بنحو $141.9 مليون بسعر إتاحة قدره $0.0001 للسهم. يتطلب SPA من Datavault السعي للحصول على موافقة المساهمين عبر توكيل أو موافقة مكتوبة، ويتضمن اتفاقات تصويت من بعض المساهمين لدعم المقترحات المقترحة.

Scilex Holding Company (SHC) 已提交 Schedule 13D,披露其直接收购 Datavault AI Inc. (DVLT) 的 15,000,000 股股份,占在外普通股的 8.03%。此次收购是总额为 $150.0 百万 的证券购买协议的一部分,SHC 以每股 $0.5378 的价格购买 15.0 百万股,使用比特币支付,初始交割日为 2025 年 9 月 26 日。协议在获得股东批准后,预计发行可前资金认股权证,可 exercisable for 263,914,094 股,金额约 $141.9 百万,行使价格为每股 $0.0001。SPA 要求 Datavault 通过代理投票或书面同意寻求股东批准,并包含某些股东的投票协议以支持拟议的提案。

Positive
  • Immediate 8.03% ownership via purchase of 15,000,000 shares
  • $150.0 million financing committed to Datavault, providing near-term capital
  • Pre-funded warrant structure funds growth while deferring immediate share issuance until approvals
Negative
  • Potential dilution: pre-funded warrant exercisable for 263,914,094 shares at $0.0001 could materially increase share count
  • Transaction contingent on stockholder approval and proxy filings; failure to obtain approval requires repeated meetings
  • Consideration paid in Bitcoin, introducing cryptocurrency settlement timing and pricing dependence on spot rates

Insights

SHC funded a meaningful equity stake plus a very large pre-funded warrant, creating potential dilution.

The filing shows an immediate 8.03% ownership via 15,000,000 shares bought at $0.5378 per share for part of a $150.0M transaction. The agreement also contemplates issuance of a pre-funded warrant to acquire 263,914,094 shares for roughly $141.9M, exercisable at $0.0001 per share, which would substantially increase the issuer's outstanding share count if exercised.

This structure supplies Datavault with immediate capital while creating a contingent claim that could dilute existing holders materially upon issuance and exercise of the pre-funded warrant.

Transaction depends on stockholder approval and contains voting agreements to secure necessary votes.

Datavault must file proxy materials and hold a stockholder meeting no later than 75 days after the initial closing to approve proposals, including an increase in authorized shares to permit issuance of the pre-funded warrant shares. The SPA permits written stockholder consent in lieu of a meeting and requires repeated meetings if approval is not obtained.

The Reporting Person also entered Voting Agreements with certain stockholders granting an irrevocable proxy until termination, which is intended to support passage of the proposals.

Scilex Holding Company (SHC) ha presentato un Schedule 13D indicando di aver acquisito direttamente 15.000.000 azioni di Datavault AI Inc. (DVLT), pari al 8,03% delle azioni ordinarie in circolazione. L’acquisto è avvenuto nell’ambito di un Accordo di Acquisto di Titoli per $150,0 milioni in cui SHC ha acquistato 15,0 milioni di azioni a $0,5378 per azione, pagate in Bitcoin, con una chiusura iniziale il 26 settembre 2025. L’accordo prevede l’emissione, previo ottenimento dell’approvazione degli azionisti, di un warrant prefinanziato exercisable per 263.914.094 azioni per circa $141,9 milioni con un prezzo di esercizio di $0,0001 per azione. Lo SPA richiede a Datavault di perseguire l’approvazione degli azionisti tramite procura o consenso scritto e contiene accordi di voto di alcuni azionisti per sostenere le proposte proposte.

Scilex Holding Company (SHC) presentó un Schedule 13D en el que comunica haber adquirido directamente 15,000,000 acciones de Datavault AI Inc. (DVLT), que representan el 8,03% del capital social común en circulación. La adquisición formó parte de un Acuerdo de Compra de Valores por $150,0 millones, en el que SHC compró 15,0 millones de acciones a $0,5378 por acción, pagadas en Bitcoin, en un cierre inicial el 26 de septiembre de 2025. El acuerdo contempla la emisión, sujeto a la aprobación de los accionistas, de un warrant prefinanciado ejercitable por 263.914.094 acciones por aproximadamente $141,9 millones con un precio de ejercicio de $0,0001 por acción. El SPA exige que Datavault busque la aprobación de los accionistas mediante poder o consentimiento por escrito y contiene acuerdos de voto de ciertos accionistas para apoyar las propuestas propuestas.

Scilex Holding Company (SHC)는 Schedule 13D를 제출하여 Datavault AI Inc. (DVLT)의 15,000,000주를 직접 취득했으며, 이는 발행된 보통주 총수의 8.03%에 해당합니다. 이 인수는 SHC가 $150.0백만의 증권매매계약(SPA)의 일부로 15.0백만주를 주당 $0.5378에 비트코인으로 지급하며, 초기 종결일은 2025년 9월 26일입니다. 이 계약은 주주 승인을 받으면 263,914,094주에 대해 행사할 수 있는 사전자금 워런트를 발행하는 것을 contemplated하고 있으며, 행사가는 주당 $0.0001입니다. SPA는 Datavault가 주주 승인을 위한 위임장 또는 서면 동의를 추구하도록 요구하며, 특정 주주의 투표 동의도 제안된 제안을 지지하기 위한 조항으로 포함되어 있습니다.

Scilex Holding Company (SHC) a déposé un Schedule 13D indiquant qu’elle a directement acquis 15 000 000 actions de Datavault AI Inc. (DVLT), représentant 8,03% des actions ordinaires en circulation. Cette acquisition fait partie d’un accord d’achat de titres d’un montant de $150,0 millions, dans lequel SHC a acheté 15,0 millions d’actions à $0,5378 par action, payées en Bitcoin, à une clôture initiale le 26 septembre 2025. L’accord prévoit l’émission, sous réserve de l’approbation des actionnaires, d’un warrant préfinancé exerçable sur 263 914 094 actions pour environ $141,9 millions avec un prix d’exercice de $0,0001 par action. Le SPA oblige Datavault à obtenir l’approbation des actionnaires par procuration ou consentement écrit et contient des accords de vote de certains actionnaires pour soutenir les propositions proposées.

Scilex Holding Company (SHC) hat eine Schedule 13D eingereicht und offengelegt, dass sie direkt 15.000.000 Aktien von Datavault AI Inc. (DVLT) erworben hat, was 8,03% des ausstehenden Stammkapitals entspricht. Der Erwerb erfolgte im Rahmen eines Securities Purchase Agreement über $150,0 Millionen, in dem SHC 15,0 Millionen Aktien zu $0,5378 pro Aktie erwarb, gezahlt in Bitcoin, bei einem ersten Closing am 26. September 2025. Das Abkommen sieht die Ausgabe, vorbehaltlich der Zustimmung der Aktionäre, eines vorkonfigurierten Warrants vor, der für 263.914.094 Aktien zu ca. $141,9 Millionen ausübbar ist, mit einem Ausübungspreis von $0,0001 pro Aktie. Der SPA verlangt von Datavault, die Zustimmung der Aktionäre durch Vollmacht oder schriftliche Zustimmung zu suchen, und enthält Stimmrechtsvereinbarungen bestimmter Aktionäre zur Unterstützung der vorgeschlagenen Vorschläge.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
Note to Row 13: Percent of class beneficially owned is calculated based on 171,842,741 shares of common stock, par value $0.0001 per share, of Datavault AI Inc. ("Common Stock") outstanding as of September 25, 2025, prior to the issuance of shares of Common Stock to the Reporting Person.


SCHEDULE 13D


Scilex Holding Company
Signature:/s/ Henry Ji
Name/Title:Henry Ji, Chief Executive Officer and President
Date:10/02/2025

FAQ

What stake in Datavault AI (DVLT) did Scilex Holding Company acquire?

Scilex Holding Company acquired 15,000,000 shares, representing approximately 8.03% of Datavault's outstanding common stock as of September 25, 2025.

How much did SHC pay per share and how was payment made?

SHC purchased the 15.0 million shares at a per-share price of $0.5378, with the purchase price to be paid in Bitcoin based on the Coinbase spot rate prior to closing.

What is the pre-funded warrant described in the filing?

Upon stockholder approval, Datavault will issue a pre-funded warrant to SHC to purchase 263,914,094 shares for approximately $141.9M; the warrant's exercise price is $0.0001 per share and is immediately exercisable when issued.

Is the transaction final or subject to approvals?

The initial share purchase closed, but issuance of the pre-funded warrant and related proposals require Datavault stockholder approval via proxy or written consent; Datavault must hold a meeting no later than 75 days after the initial closing.

Are there agreements to help secure the required votes?

Yes. Voting Agreements dated September 25, 2025, commit certain stockholders to vote in favor of the proposals and grant irrevocable proxies until the agreements terminate.
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