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Datavault AI Inc. (NASDAQ:DVLT) is one of the best penny stocks to invest in
TheFly reported on May 7 that DVLT announced that management has begun evaluating a potential dividend spin-out of its Acoustic Sciences business into a separate publicly traded company. The proposed new entity, expected to be named “API Media,” would combine operations including ADIO, WiSA, Event Citadel, and API Media. The company has reserved the NASDAQ ticker “ADIO” for the planned listing.
The transaction is still in the assessment and planning stage and would require board approval, final agreements, regulatory clearance, and completion of closing conditions before proceeding. DVLT has engaged Houlihan Lokey as financial advisor and Paul Hastings LLP as legal counsel, while also reviewing additional investment banking partners to support the process. The move reflects early-stage structuring work around a potential separation aimed at unlocking value from its Acoustic Sciences segment.