Datavault AI Inc. (DVLT) has entered into a definitive agreement to acquire WDT, LLC, the parent company of BankWyse, which holds a Wyoming special purpose depository institution (SPDI) charter. The merger aims to integrate banking and custodial services into Datavault's existing AI and data monetization platform.
Key Details
- Transaction Value: The aggregate upfront consideration is valued at approximately $22.0 million, comprising $14.66 million in Datavault AI common stock and $7.34 million in cash.
- Contingent Consideration: The agreement includes up to an additional $10.0 million in earn-out payments based on BankWyse achieving key milestones, including obtaining regulatory authorization to operate and meeting specified revenue targets.
- Capital Commitment: Datavault AI has also committed to provide an aggregate of $35.0 million in funding to BankWyse for capitalization, regulatory compliance, and operational readiness. This includes $5.0 million to be funded at closing and an additional $30.0 million post-closing.
- Liabilities: As part of the deal, Datavault AI will pay up to $3.0 million of WDT's closing liabilities and assume up to $3.5 million of specified other liabilities. The transaction is dated August 19, 2026, and is subject to regulatory approval from the Wyoming Division of Banking.