FINWIRES · TerminalLIVE
FINWIRES

Datavault AI Signs Binding Term Sheet for $120 Million Cash Contribution From Scilex

By

Datavault AI (DVLT) said Monday it has signed a binding term sheet for a cash contribution and revenue participation agreement with Scilex (SCLX).

Under the term sheet, Scilex will make an upfront cash contribution of $120 million to Datavault AI, according to a statement.

In return, Datavault AI will pay 30% of all gross revenues exclusively from its quantum-ready edge network up to $250 million. The company will then pay 15% of the network revenues until $1.2 billion is reached, and 5% from that point moving forward, the statement said.

The cash contribution will be used to finance the deployment of the network, Datavault AI said.

The two companies have agreed to negotiate in good faith and aim to enter into a definitive agreement reflecting the terms of the term sheet, while the Scilex transaction is targeted to close in multiple tranches, with the final tranche before the end of 2026, the statement said.

The initial deployment of the network, which will use Available Infrastructure's fleet of data centers, is expected in Q2, Datavault AI said.

Price: $0.74, Change: $+0.01, Percent Change: +0.79%

Related Articles

Wire

Brazilian Rare Earths Targets Brazil Critical Minerals Province Scoping Study, Mineral Resource Estimate for Mid-2026; Shares Up 4%

Brazilian Rare Earths (ASX:BRE) said that the mineral resource estimate and scoping study for the Rocha da Rocha critical minerals province are both targeted for mid-2026, according to a Monday Australian bourse filing.Sensor-based ore sorting testing validated a simple, dry beneficiation pathway for the Monte Alto project, while a metallurgical optimization program validated low-temperature acid-cure processing at 150 degrees celsius, with a 15 kilograms blended composite scale-up test confirming high extraction performance and strong scalability, the filing said.The company expects to submit an economic development plan for the project to Brazil's National Mining Agency in the June quarter.Brazilian Rare Earths' shares rose nearly 4% in recent trading on Monday.

ASX:BRE
Wire

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index shedding 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.2%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index added 0.1%.West Texas Intermediate crude oil fell 1.2% to $94.68 a barrel, and global benchmark Brent rose 0.5% to $105.64 a barrel. Henry Hub natural gas futures shed 3.7% to $2.52 per 1 million BTU.In corporate news, TotalEnergies (TTE) secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan. The stock fell 0.7%.X-Energy (XE) shares jumped 27% following their debut on Nasdaq.SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 2.8% as revenue topped estimates, while earnings fell.BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported. BP shares were down 0.4%.

$BP$SLB$TTE$XE
Wire

Sector Update: Energy

Energy stocks declined late Friday afternoon with the NYSE Energy Sector Index shedding 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.4%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index was little changed.West Texas Intermediate crude oil fell 1.1% to $94.79 a barrel, and global benchmark Brent rose 0.8% to $105.87 a barrel. Henry Hub natural gas futures shed 3.8% to $2.52 per 1 million BTU.In corporate news, TotalEnergies (TTE) secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan. The stock fell 0.7%.

$TTE