Wearable Devices Ltd. (NASDAQ: WLDS) has announced a private placement with a single institutional investor that is expected to generate approximately $3.3 million in gross proceeds before expenses. The company agreed to sell 1 million ordinary shares, or ordinary share equivalents, and warrants to purchase up to 1 million additional ordinary shares at a combined purchase price of $3.285 per share and accompanying warrant. The warrants carry an exercise price of $3.16 per share, are exercisable immediately and expire five years after issuance.
The offering is expected to close on or about Aug. 3, 2026, with proceeds earmarked for commercialization of Mudra products, development of next-generation technologies, advancement of AI6 Labs initiatives, including Physical AI and robotics, potential strategic transactions and general corporate purposes. This capital injection comes at a critical time as the company seeks to scale its innovative neural input technology and expand its presence in the rapidly growing augmented reality, virtual reality, and extended reality markets.
Wearable Devices is a growth company pioneering human-computer interaction through its AI-powered neural input touchless technology. Leveraging proprietary sensors, software, and advanced AI algorithms, the company's consumer products – the Mudra Band and Mudra Link – are defining the neural input category both for wrist-worn devices and for brain-computer interfaces. These products enable touch-free, intuitive control of digital devices using gestures across multiple operating systems.
Operating through a dual-channel model of direct-to-consumer sales and enterprise licensing and collaborations, Wearable Devices empowers consumers with stylish, functional wearables for enhanced experiences in gaming, productivity, and XR. In the business sector, the company provides enterprise partners with advanced input solutions for immersive and interactive environments, from augmented reality/virtual reality/XR to smart environments.
The newly launched ai6 Labs ecosystem accelerates this vision by integrating research, products, and AI breakthroughs. The private placement will directly support these initiatives, allowing the company to continue its mission of setting the standard for neural input in the XR ecosystem. As the demand for intuitive and seamless human-machine interaction grows, Wearable Devices is positioning itself to capitalize on these trends.
Investors and industry observers will be watching closely to see how the company utilizes these funds to achieve its strategic goals. The successful completion of this private placement could provide the necessary capital to drive innovation and market adoption, potentially impacting the company's competitive standing and long-term growth prospects.
For more information, visit the company's newsroom at https://ibn.fm/WLDS.
