Datavault AI Inc. 8-K

What Happened
Datavault AI Inc. (DVLT) announced on June 24, 2026 that it entered into a binding term sheet with Scilex Holding Company for the proposed sale of 837 Bitcoin (BTC) held in the company’s Biconomy digital wallet for a total purchase price of $50 million. The term sheet anticipates a Definitive Agreement to be negotiated in good faith and contains customary closing conditions; the parties noted there is no assurance the transaction will close.

Key Details

• Proposed sale: 837 BTC for $50,000,000.
• Payment terms: $30,000,000 initial payment; remaining $20,000,000 payable in quarterly installments beginning Q4 2026 and concluding December 31, 2028.
• Consideration form: Scilex may pay in cash, Scilex common stock, publicly traded securities of its subsidiaries, or a combination, at Scilex’s discretion.
• Status and filings: Term sheet subject to negotiation and board approvals; full term sheet to be filed as an exhibit to Datavault’s Form 10-Q for the quarter ending June 30, 2026 (or by amendment to this 8-K).

Why It Matters
If completed, the transaction would convert a significant portion of Datavault’s BTC holdings into cash or securities, affecting the company’s cryptocurrency exposure and liquidity position. However, the company cautions the agreement is not final and consummation depends on negotiations, regulatory and market conditions and other customary closing requirements; there is also a risk of termination or disputes that could be costly or distract management. Investors should not assume the sale will occur until a Definitive Agreement is executed and closing conditions are satisfied.