Shares of Datavault AI Inc. (DVLT) climbed 8.6% to $0.79 on Friday, extending gains slightly in after-hours trading, after the company announced a rescheduling of its planned warrant dividend distribution. The new distribution date is set for February 23.
Revised Timeline and Trading Frenzy
The adjustment comes amid heightened retail interest in low-priced equities, where corporate announcements frequently drive significant price swings and elevated volume. Trading activity was substantial, with nearly 97 million shares changing hands.
Eligibility for the distribution remains tied to the previously established record date of January 7. Shareholders of record on that date will receive one warrant for every 60 shares held. The warrants carry a $5.00 exercise price and a one-year term but will not be listed on any public exchange.
Key Terms and Potential Capital Raise
A notable condition attached to the warrants requires holders to maintain one "Dream Bowl Meme Coin II" token per warrant in a designated Datavault digital wallet to exercise. The company estimates approximately 9.7 million warrants will be issued.
If all warrants are exercised for cash at the $5 strike price, Datavault could raise up to $48.6 million. The company stated these funds would be allocated for working capital and general corporate purposes.
With DVLT shares currently trading well below the $5 exercise threshold, the warrants are deeply out of the money, making the potential capital infusion largely theoretical at present. The company's board retains the right to further alter or cancel the distribution, pending a final review of solvency requirements.
Market participants are now focused on the post-Presidents' Day return to trading and the forthcoming release of registration documents related to the warrant distribution on February 23.
