{"id":12156,"date":"2026-08-20T23:31:13","date_gmt":"2026-08-20T23:31:13","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12156"},"modified":"2026-08-20T23:31:13","modified_gmt":"2026-08-20T23:31:13","slug":"datavault-wants-to-buy-a-bank-and-fund-it-with-35-million-after-reporting-1-4-million-cash","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12156","title":{"rendered":"Datavault wants to buy a bank and fund it with $35 million after reporting $1.4 million cash"},"content":{"rendered":"

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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.<\/p>\n

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?<\/p>\n

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\u2019s sellers could receive up to another $10 million if they meet milestones, split evenly between cash and stock.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Those conditions sit uneasily beside Datavault\u2019s June 30 balance sheet. The company reported $1.4 million of cash and $49 million of Bitcoin, while using approximately $80 million of cash in operations during the first half.<\/p>\n

Management said existing resources were insufficient to fund the next 12 months and that substantial doubt remained about the company\u2019s ability to continue as a going concern.<\/p>\n

\"Infographic\"Infographic
A graphic outlines Datavault\u2019s $35 million BankWyse funding commitment, disclosed liquidity, first-half cash use, and the remaining undisclosed source of funds.<\/figcaption><\/figure>\n

Datavault had\u00a0<\/span>proposed selling 837 Bitcoin to Scilex Holding for $50 million, but the transaction was not assured, and Scilex could pay in cash, securities, or a mixture.<\/span>\u00a0Only $30 million was due initially, with the remaining $20 million scheduled through 2028.<\/p>\n