Wearable Devices Secures $5M Through Warrant Inducement Agreement

Wearable Devices Ltd. (NASDAQ: WLDS), a technology growth company specializing in AI-powered touchless sensing wearables, announced a warrant inducement agreement with an existing institutional investor. The agreement involves the immediate exercise of warrants to purchase up to 2,904,499 ordinary shares at $1.73 per share, generating approximately $5.0 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes.

As part of the agreement, the investor will receive new unregistered warrants to purchase up to 5,082,873 shares at an exercise price of $1.51 per share. These warrants are exercisable immediately and expire in five years. The closing is expected on or about April 21, 2026, subject to customary conditions. This strategic move provides Wearable Devices with additional capital to support its growth initiatives and operational needs.

The announcement is significant as it demonstrates continued investor confidence in Wearable Devices' technology and market potential. The company is pioneering human-computer interaction through its AI-powered neural input touchless technology. Its consumer products, including the Mudra Band and Mudra Link, enable touch-free, intuitive control of digital devices using gestures across multiple operating systems. These products are defining the neural input category for wrist-worn devices and brain-computer interfaces.

Wearable Devices operates through a dual-channel model of direct-to-consumer sales and enterprise licensing and collaborations. In the consumer sector, the company empowers users with stylish, functional wearables for enhanced experiences in gaming, productivity, and extended reality (XR). In the business sector, it provides enterprise partners with advanced input solutions for immersive and interactive environments, from augmented reality/virtual reality/XR to smart environments.

The company is setting the standard for neural input in the XR ecosystem, shaping the future of seamless, natural user experiences across some of the world's fastest-growing tech markets. The proceeds from this warrant inducement agreement will help accelerate its development and market penetration. For more details, the full press release is available at https://ibn.fm/CvCBG.

Wearable Devices' ordinary shares and warrants trade on the Nasdaq Capital Market under the symbols "WLDS" and "WLDSW," respectively. Investors can stay updated with the latest news and updates relating to WLDS at the company's newsroom: https://ibn.fm/WLDS.