On October 15, 2026, Datavault AI Inc. entered into Amendment No. 1 to a previously issued Convertible Promissory Note. The original note was dated August 18, 2026, and was issued to Streeterville Capital, LLC in the principal amount of $25,030,000. The amendment modifies the terms of this existing debt instrument.
The primary change involves the establishment of a floor price for the conversion of the note. The amendment sets a floor price of $0.0632, referred to as the Nasdaq Floor Price. This price is defined as 20% of the Nasdaq Minimum Price determined immediately preceding the issuance of the original note. The floor price is subject to adjustment for future corporate actions, including reverse or forward stock splits, stock dividends, stock combinations, recapitalization, reclassification, or other similar transactions occurring after the effective date of the amendment.
The amendment also stipulates that no adjustment to the Fixed Price under the original note will reduce the Fixed Price below this new Nasdaq Floor Price. All other provisions of the original note remain unchanged and continue in full force and effect. A copy of the full text of the amendment is filed as Exhibit 4.1 to this report.
