CROWDFUNDINSIDER · 2026-10-29 01:18 UTC

Datavault AI Shares ($DVLT) Plunge Nearly 50% After Disclosure That Bitcoin Linked to $150 Million Scilex Deal Remains Inaccessible

Datavault AI (DVLT) shares fell nearly 50% after disclosing it cannot access ~1,309 BTC received from Scilex in a $150 million equity deal signed September 2025. The company restated multiple periods of financial statements, reclassifying the bitcoin from a digital asset to a subscription receivable, reducing reported assets by $8.1M to $92.2M across various quarters. Management is reassessing going-concern evaluations since the bitcoin balances previously counted as liquidity will no longer appear as assets and collection from Scilex remains uncertain.

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