Wearable Devices Ltd. (NASDAQ: WLDS) has entered into a warrant inducement agreement with an existing institutional investor that will generate approximately $5.68 million in gross proceeds for the company. The agreement involves the immediate cash exercise of warrants to purchase 3,322,000 ordinary shares at $1.71 per share. A.G.P./Alliance Global Partners is serving as exclusive financial advisor for the transaction.
In exchange for the full cash exercise, the company will issue new unregistered warrants to purchase up to 5,813,500 ordinary shares at $1.86 per share. These new warrants will be exercisable upon shareholder approval and will expire five years thereafter. The closing of the transaction is expected on or about December 1, 2025, subject to customary conditions.
The capital infusion comes at a critical time for Wearable Devices, which is pioneering human-computer interaction through its AI-powered neural input touchless technology. The company's consumer products, the Mudra Band and Mudra Link, are defining the neural input category for both wrist-worn devices and brain-computer interfaces. These products enable touch-free, intuitive control of digital devices using gestures across multiple operating systems.
Wearable Devices operates through a dual-channel model of direct-to-consumer sales and enterprise licensing and collaborations. The company empowers consumers with stylish, functional wearables for enhanced experiences in gaming, productivity, and extended reality (XR). In the business sector, the company provides enterprise partners with advanced input solutions for immersive and interactive environments, from augmented reality and virtual reality to smart environments.
By setting the standard for neural input in the XR ecosystem, Wearable Devices is shaping the future of seamless, natural user experiences across some of the world's fastest-growing tech markets. The company's ordinary shares and warrants trade on the Nasdaq Capital Market under the symbols "WLDS" and "WLDSW," respectively. Additional information about the company is available through its newsroom.
The financial agreement represents a significant vote of confidence from institutional investors in Wearable Devices' technology and market position. The $5.68 million in gross proceeds will provide the company with additional resources to advance its technology development, expand its product offerings, and strengthen its position in competitive markets. As wearable technology continues to evolve and integrate more deeply with artificial intelligence, companies like Wearable Devices that are developing intuitive, touch-free control systems are positioned to benefit from growing demand for more natural human-computer interfaces.
