Wearable Devices Gains as Institutional Investor Exercises $5.68M in Warrants

Wearable Devices (WLDS) announced that it has entered into a warrant inducement agreement with an existing institutional investor, enabling the immediate exercise of warrants to purchase up to 3,322,000 ordinary shares at an exercise price of $1.71 per share.

Transaction Details

Shares covered: 3,322,000
Exercise price: $1.71 per share
Gross proceeds: Approximately $5.68 million
Investor type: Existing institutional investor
Stock reaction: Up +4.84% premarket to $1.95

Use of Proceeds

The company stated that the funds will be used for:

Working capital needs
General corporate purposes

Why It Matters

This warrant exercise provides Wearable Devices with additional liquidity and demonstrates continued support from an institutional investor, which may help strengthen the company’s near-term financial position.