Datavault wants to buy a bank and fund it with $35 million after reporting $1.4 million cash

Datavault AI has agreed to acquire BankWyse, a Wyoming banking institution, while promising funding substantially larger than the cash it reported at the end of June.

The mismatch leaves a central question for the proposed deal: How can Datavault finance the purchase and capitalize the bank without another layer of debt or dilution?

The agreement disclosed on Aug. 19 values the initial consideration at approximately $22 million, comprising $14.66 million in Datavault stock and $7.34 million in cash. BankWyse’s sellers could receive up to another $10 million if they meet milestones, split evenly between cash and stock.

Separate from the purchase price, Datavault committed to provide BankWyse with $35 million for capitalization and operations. The funding schedule starts with $5 million at closing, followed by five $2.5 million installments between days 60 and 180 and a final $17.5 million payment by the eighth month.

The transaction requires approval or non-objection from the Wyoming Division of Banking, and Datavault must obtain immediately available financing sufficient to cover its closing obligations, including the $7.34 million cash payment, the initial $5 million BankWyse funding, and certain liabilities.

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