EXHIBIT 10.2
January 30, 2023
VIA E-MAIL
Maxim Group LLC
300 Park Avenue, 16th Floor
New York, New York 10022
Attention: Clifford A. Teller, Co-President
E-mail: cteller@maximgrp.com
Blank Rome LLP
1271 Avenue of the Americas
New York, New York 10020
Attention: Leslie Marlow, Esq. and Patrick J. Egan, Esq.
E-mails: leslie.marlow@blankrome.com; patrick.egan@blankrome.com
Re: | Equity Distribution Agreement – Termination Notice |
Ladies and Gentlemen:
Reference is made to that certain Equity Distribution Agreement (the “Agreement”) dated as of September 13, 2022 by and between WiSA Technologies, Inc. (the “Company”) and Maxim Group LLC, with respect to shares of common stock, par value $0.0001 per share, of the Company, having an aggregate offering price of up to US$4,000,000. Capitalized terms used and not otherwise defined in this letter shall have the meanings given such terms in the Agreement.
The Company hereby elects to terminate the Agreement pursuant to Section 7 of the Agreement, subject to any rights that expressly survive termination as set forth in the Agreement, and this letter shall constitute written notice of the Company’s election to terminate the Agreement in accordance with Section 7 of the Agreement.
(Remainder of Page Intentionally Blank)
Sincerely yours, | |||
COMPANY: | |||
WISA TECHNOLOGIES, INC., | |||
a Delaware corporation | |||
By: | /s/ Brett Moyer | ||
Name: | Brett Moyer | ||
Title: | Chief Executive Officer |
cc: | Sullivan & Worcester LLP |
1633 Broadway
New York, NY 10019
Attn: David E. Danovitch, Esq.
E-mail: ddanovitch@sullivanlaw.com
Accepted and Agreed
MAXIM GROUP LLC, | |||
a New York limited liability company | |||
By: | /s/ Clifford A. Teller | ||
Name: | Clifford A. Teller | ||
Title: | Co-President |
[Signature Page to Termination Notice]