Summit Wireless Technologies، Inc.

(نام ثبت کننده همانطور که در منشور آن مشخص است)
      

(نام شخص (ها)) اظهارنامه پروکسی را ثبت کنید ، اگر غیر از ثبت باشد)
      

پرداخت هزینه های تشکیل پرونده (کادر مناسب را بررسی کنید):
      

6840 Via Del Oro ، Ste. 280

San Jose، CA 95119

(408) 627-4716

اطلاعیه مهم در مورد در دسترس بودن مواد پروکسی

برای نشست ویژه سهامداران که در تاریخ 31 مارس 2020

برگزار شود اطلاعیه نشست ویژه ، بیانیه پراکسی
      

و گزارش سالانه در مورد فرم 10-K در دسترس هستند:
      

https://ir.summitwireless.com/sec-filings
      

اطلاعیه نشست ویژه سهامداران

که در تاریخ 31 مارس 2020

برگزار می شود به سهامداران Summit Wireless Technologies ، Inc.: .193659002 پایهNOTICE هدیه می دهد که ویژه ای است نشست سهامداران ("جلسه ویژه") Summit Wireless Technologies، Inc ، یک شرکت دلاور ("شرکت") در تاریخ 31 مارس 2020 ساعت 2:00 به وقت اقیانوس آرام در دفاتر شرکت با شماره 8875 برگزار می شود. NE Von Neumann Dr.، Suite 100، Hillsboro، Oregon 97006 برای اهداف زیر:
      

1. تأیید اصلاحیه در گواهی ادغام ما ، به عنوان اصلاح شده ("گواهی ثبت اختراع") ، برای ایجاد تقسیم سهام معکوس از کلیه سهام باقیمانده سهام مشترک ما ، به ارزش 0.0001 دلار در هر سهم ("سهام مشترک") ، با نسبت در محدوده یک برای چهار و یک به بیست ، و اجازه صدور مجوز به هیئت مدیره شرکت برای تعیین ، به صلاحدید خود ، نسبت خاص و زمان بندی چنین سهام معکوس تقسیم می شود (' پیشنهاد شماره 1)).
      

مورد قبلی تجارت به طور کامل در بیانیه پراکسی که ضمیمه شده است و بخشی از این اطلاعیه را تشکیل می دهد ، توضیح داده شده است. فقط سهامداران سابقه کار سهام عادی و سهامداران رکورد سری این شرکت 8٪ سهام ارشد قابل تبدیل ارشد ، به ارزش 0.0001 دلار برای هر سهم ('مجموعه A سهام ترجیحی') ، در نزدیکی مشاغل در تاریخ ______ ، 2020 ('رکورد تاریخ ") مجاز خواهد بود كه در جلسه ویژه یا هرگونه تعویق در جلسه ، به جلسه رأی دهید و به آن رأی دهید.
      

از کلیه سهامداران سهام دار و صاحب سهام سود سهام و سری A موجود در تاریخ ضبط ، صمیمانه دعوت می شود به صورت حضوری شرکت کنند. رأی شما صرف نظر از تعداد سهام سهام مشترک و یا سری A سهام ترجیحی که در اختیار دارید مهم است. فقط صاحبان سابقه و یا سهامدار سهام مشترک و یا سری A موجودی ممتاز از تاریخ ثبت ممکن است بصورت حضوری در جلسه ویژه شرکت کنند. هنگام ورود به جلسه ویژه ، باید شناسه عکس ، مانند گواهینامه رانندگی را ارائه دهید. صاحبان منافع نیز باید از تاریخ ثبت ، مانند حساب کارگزاری یا بیانیه بانکی ، شواهدی در مورد سهام موجودی ارائه دهند.
      

این که آیا شما انتظار دارید در جلسه ویژه حضور یابید یا خیر ، لطفاً کارت پراکسی بسته شده را در پاکت نامه پستی بسته بسته بپیوندید ، به منظور اطمینان از نمایندگی سهام خود در سهام مشترک و یا سری A ، کارت امضای پستی بسته شده را امضا کنید ، ثبت نام کنید. موجودی. اگر قصد دارید در جلسه ویژه شرکت کنید ، در آماده سازی ما برای نشست ویژه کمک می کند. پروکسی شما مطابق رویه های مندرج در بیانیه پراکسی قابل بازگشت است. لطفاً به شما توصیه كنید كه اگر در تاریخ ضبط ، ركورددار یا صاحب سود سهام یا سری A سهام ترجیحی نباشید ، شما حق رأی و هرگونه پراكسی دریافت شده از اشخاصی را ندارید كه ضبط نشده یا صاحبان منافع سهام عادی یا سری باشند. سهام ترجیحی در تاریخ ضبط رعایت نمی شود.
      

WHETHER OR شما قصد ندارید در جلسات خاص شرکت کنید ، لطفاً به صورت کاملاً تکمیل ، امضاء ، تاریخ و بازگرداندن کارت پروکسی درگیر شده در ENVELOPE. در صورت عدم استفاده از كارت كاملاك در كشورهاي متحد ، نيازي به تأمين نياز نيست.

فهرست محتوا
      

من
      

اعلامیه برای ملاقات ویژه سهامداران

در این بیانیه پروکسی ، Summit Wireless Technologies ، Inc. ، یک شرکت دلاور ، به عنوان "اجلاس" ، "شرکت" ، "ما" ، "ما" و "ما"
      

ما یک شرکت رشد در حال ظهور تحت قوانین مربوط به اوراق بهادار فدرال هستیم و بنابراین مجاز به مطابقت با برخی از نیازهای گزارش دهی شرکت های عمومی هستیم. ما به عنوان یک شرکت رشد در حال ظهور ، ما در این بیانیه پراکسی ، افشای مقیاس بندی شده مجاز تحت قانون شروع کارهای تجاری ما را در سال 2012 ("قانون کار") ، از جمله افشای جبران خسارت مورد نیاز "یک شرکت گزارش دهنده کوچکتر" ارائه می دهیم ، زیرا این اصطلاح است. تعریف شده در قانون 12b-2 مطابق قانون بورس اوراق بهادار در سال 1934 ، به عنوان اصلاح شده ("قانون ارز"). علاوه بر این ، ما به عنوان یک شرکت توسعه در حال ظهور ، ما موظف نیستیم رای خود را بخاطر تأیید ، به صورت مشورتی ، برای جبران مأمورین اجرایی به نام خود یا تعداد دفعات اجرای چنین آرا ، انجام دهیم. ما تا اولین روز از سال مالی بعد از پنجمین سالگرد عرضه عمومی اولیه ما ("IPO") در ژوئیه 2018 ، "یک شرکت رشد نوظهور" باقی خواهیم ماند. (ب) آخرین روز سال مالی که در آن کل درآمد ناخالص ما در سال برابر یا بیش از 1.07 میلیارد دلار است. (iii) تاریخی که بیش از 1 میلیارد دلار بدهی غیرقابل برگشت در سه سال گذشته صادر کرده ایم. یا (IV) تاریخی که ما طبق قوانین کمیسیون بورس و اوراق بهادار ("SEC") به عنوان یک فیلتر شتاب بزرگ تصور می شود. حتی پس از آنکه ما دیگر یک شرکت رشد اقتصادی در حال ظهور نیستیم ، ممکن است یک شرکت گزارش دهنده کوچکتر باقی بمانیم.
      

اطلاعات مربوط به مواد پراکسی و نشست ویژه

وكلاك ها به شكلی كه این بیانیه پراکسی در آن قرار گرفته است توسط هیئت مدیره ما ("هیئت مدیره") برای استفاده در جلسه ویژه سهامداران ما درخواست می شوند ( "نشست ویژه") که در ساعت 2 بعد از ظهر ، ساعت اقیانوس آرام برگزار می شود ، در 31 مارس 2020 در دفاتر شرکت در 8875 NE Von Neumann دکتر ، سوئیت 100 ، هیلزبورو ، اورگان 97006 ، و در هر مهلت دیگری برگزار می شود. رای شما بسیار مهم است. به همین دلیل ، هیئت مدیره ما درخواست می کند که سهام مشترک خود را به ارزش هر سهم 0.0001 دلار برای هر سهم ، از شرکت (سهام مشترک) و / یا سری A 8٪ سهام برتر تبدیل شده برتر ، به ارزش 0.0001 دلار برای هر سهم ، اجازه دهید. از این شرکت ("مجموعه A سهام ترجیحی") می باشد که در جلسه ویژه توسط وكلاء هایی كه در كارت پروکسی محصور شده نامیده می شوند ، حضور یابند. این بیانیه پراکسی حاوی اطلاعات مهمی است که باید در هنگام تصمیم گیری در مورد رأی دادن به موارد مطرح شده در جلسه ویژه ، در نظر بگیرید. لطفاً آن را با دقت بخوانید.
      

مواد رأی دهی ، که شامل این بیانیه پراکسی و کارت پراکسی محصور شده است ، برای اولین بار برای سهامداران در تاریخ یا حدود _______ ، 2020 ارسال می شود.
      

فقط سهامداران سوابق سهام مشترک و سهامداران ما از سابقه سهام A ترجیح داده شده از پایان کار خود در تاریخ ______ ، 2020 ("تاریخ ثبت") حق دریافت و رای گیری در جلسه ویژه. از تاریخ ثبت ، _______ سهام بورس اوراق بهادار منتشر شده و قابل ملاحظه و 250،000 سهم از سری A سهام ترجیحی صادر و قابل ذکر است. دارندگان سهام مشترک و سری A سهام ترجیحی حق دارند برای هر سهم از سهام عادی و یا یا سهم سری A سهام ترجیحی که توسط آنها برگزار می شود ، به ازای هر سهم یک (1) رأی صادر کنند. سهامداران ممکن است به صورت حضوری یا با وکیل رای دهند. اما ، اعطای وكیل به هیچ وجه بر حق سهامدار برای حضور در جلسه ویژه و رأی حضوری تأثیر نمی گذارد. هر دارنده سهامدار که پروکسی می دهد حق دارد با استفاده از (i) ثبت یک پروکسی بعداً یا اطلاع کتبی مبنی بر ابطال با ما در دفتر اصلی ما در هر زمان قبل از اعمال نمایندگی اصلی یا (ب) حضور در ویژه ، آن پروکسی را باطل کند. ملاقات و رای گیری حضوری.
      

برت مویر به عنوان وکیل دادگستری معرفی شد. آقای مویر رئیس و مدیر اجرایی ما است. آقای مویر به تمام سهامهایی كه توسط وكلاءانی كه به درستی اجرا شده اند ، رای داده اند كه در جلسه ویژه به حساب می آیند ، همانطور كه ​​در زیر "رویه های رای گیری" شرح داده شده است. در صورتي كه راي با توجه به موارد مشخص شده در اعلاميه جلسه ويژه در نماينده مشخص شده باشد ، سهامي كه توسط وكيل نمايندگي مي شود مطابق با آن مشخصات رأيده مي شود. در صورت عدم وجود دستورالعمل رأی گیری ، سهام شما مطابق آنچه در هیئت ما در همه موارد توصیه می شود رأی داده می شود ، و ممکن است صاحبان نماینده با توجه به سایر موارد که بطور صحیح برای رأی دادن قبل از جلسه ویژه ارائه شده اند ، تشخیص دهند.
      

سهامداران به پیشنهاد پیشنهادی مبنی بر مجوز هیئت مدیره برای تغییر گواهی شرکت ادغام ، اصلاح شده ("گواهی اختلاط") ، برای بررسی تقسیم سهام معکوس ("تقسیم سهام معکوس") در نظر گرفته و رای می دهند. كليه سهام ممتاز سهام بورس را با نسبتي در محدوده يك براي چهار و يك به بيست و براي اعطاي مجوز به هيأت مديره تا در اختيار خود ، نسبت و زمان خاص را تعيين كند. چنین تقسیم سهام معکوس ("پیشنهاد شماره 1"). سهامداران همچنین مشاغل دیگری را که ممکن است درست قبل از نشست ویژه بیایند ، در نظر گرفته و عمل می کنند.
      

1
      

روال رأی گیری و رأی گیری لازم

آقای. Moyer به تمام سهامهایی که توسط پروکسی های به درستی اجرا شده بازگردانده می شوند رای می دهند که در جلسه ویژه به حساب می آیند. حضور بصورت حضوری یا به وکالت ، اکثریت سهام صادر شده و اوراق بهادار سهام عادی و سری A ترجیحی سهام ، در کل ، حق رأی دادن در جلسه ویژه برای ایجاد سهمیه برای معامله تجاری ضروری است. سهام نماینده پروکسی که حاوی یک رای ممتنع و سهام "بدون رأی کارگزار" است (شرح زیر) برای اهداف تعیین حضور در جلسه ویژه به عنوان موجود در نظر گرفته می شوند.
      

به همه وكیل های اعدام شده مطابق با این دادخواست تحویل داده شده و ابطال نشده در جلسه ویژه رأی خواهد شد ، همانگونه كه در چنین پراكسی مشخص شده است.
      

رأی لازم برای تقسیم سهام معكوس (پیشنهاد شماره 1). قانون دلاور تصریح می کند که رأی مثبت دارندگان اکثریت سهام مشترک ما و دارندگان اکثریت سهام ما A Stock Preferred موظف است اصلاحیه ای را در گواهینامه ثبت نام ما تأیید کند تا اثری از انحصار سهام تقسیم شود. رأی ممتنع با توجه به پیشنهاد شماره 1 با سهام هایی برخورد خواهد شد که در جلسه ویژه حضور دارند یا نماینده هستند ، اما به نفع پیشنهاد شماره 1 محاسبه نمی شود. بر این اساس ، یک رای ممتنع با توجه به پیشنهاد شماره 1 خواهد بود. همان تأثیر رأی "مخالف" طرح شماره 1.
      

اگر سهام را سودآور به نام خیابان نگه دارید و به کارگزار خود دستورالعمل رأی دهی را ارائه ندهید ، سهام شما ممکن است "واسطه کارگزار" نباشد. به طور کلی ، عدم رأی کارگزار در مورد موضوعی اتفاق می افتد که دلال مجاز به رأی دادن به آن موضوع بدون دستورالعمل از طرف صاحب سود نیست و دستورالعمل ها داده نمی شود. کارگزارانی که دستورالعمل رأی گیری از مشتریان خود دریافت نکرده اند نمی توانند از طرف مشتریان خود به پیشنهادهای "غیر معمول" رای دهند. عدم رأی کارگزار در جدول بندی نتایج رای گیری برای هر طرح پیشنهادی خاص شمرده نمی شود و سهام که بدون آراء کارگزار است ، حق رأی در نظر گرفته نمی شوند. رأی در مورد طرح شماره 1 "غیر معمول" تلقی می شود.
      

ممتنع بعنوان سهام موجود در جلسه ویژه به منظور تعیین حضور سهمیه شمرده می شود ، اما در محاسبه آرا شمارش نمی شود.
      

آراء در نشست ویژه توسط یک یا چند بازرس انتخابات که توسط برت مویر ، رئیس و مدیر اجرایی منصوب می شود ، جمع بندی می شود.
      

سهامداران حق ندارند با توجه به هر موضوعی که در جلسه ویژه مورد بررسی قرار گیرد ، از حقوق مخالفان برخوردار شوند.
      

تحویل اسناد به سهامداران که به اشتراک گذاری یک آدرس می پردازند

ما فقط یک مجموعه از مطالب مربوط به جلسه ویژه و سایر نامه های شرکتی را برای سهامدارانی که یک آدرس واحدی را به اشتراک می گذاریم ارسال خواهیم کرد مگر اینکه دستورالعمل های متضادی از هر دارنده سهام در آن آدرس دریافت کنیم. این عمل ، معروف به "خانه سازی" ، به منظور کاهش هزینه های چاپ و ارسال هزینه های ما طراحی شده است. با این حال ، شرکت بلافاصله پس از درخواست کتبی یا شفاهی ، یک نسخه جداگانه از مطالب مربوط به جلسه ویژه را به یک سهامدار در یک آدرس مشترک که یک نسخه واحد از مطالب مربوط به جلسه ویژه به آنها تحویل داده شده ، بلافاصله تحویل می دهد. شما می توانید با ارسال اطلاعیه ای کتبی یا شفاهی با ارسال یک اعلان کتبی (i) نام خود ، (ii) آدرس مشترک خود و (iii) آدرسی را که شرکت باید نسخه اضافی مطالب مخصوص جلسه را به شرکت ارسال کند ، انجام دهید. در دبیرخانه شرکت ، 6840 از طریق Del Oro ، سوئیت 280 ، سان خوزه ، کالیفرنیا 95119 ، تلفن: (408) 627-4716.
      

اگر چندین سهامدار که آدرس را به اشتراک می گذارند ، یک کپی از مطالب مربوط به نشست ویژه یا هرگونه نامه پستی شرکت دیگر را دریافت کرده اند و ترجیح می دهند شرکت برای هر یک از سهامداران نسخه ای جداگانه از نامه های بعدی را ارسال کند ، شما ممکن است یک اعلان را برای مدیر عامل اصلی شرکت ارسال کنید. دفاتر علاوه بر این ، اگر سهامداران فعلی با یک آدرس اشتراکی چندین نسخه از مطالب مربوط به جلسه ویژه یا سایر نامه های شرکت را دریافت کنند و ترجیح می دهند شرکت یک نسخه از نامه های بعدی را برای سهامداران در آدرس مشترک ارسال کند ، ممکن است اطلاع از چنین درخواستی نیز از طریق پست انجام شود. یا با تماس با دفاتر اجرایی اصلی شرکت
      

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مالکیت ایمنی مالکین و مدیریت مزایای خاص

جدول زیر ، اطلاعات راجع به مالکیت سود سهام سرمایه ما توسط 24 فوریه 2020 ارائه شده است:
      

درصد اطلاعات مالکیت نشان داده شده در جدول بر اساس 26،936،469 سهم از سهام مشترک و 250،000 سهم از سری A ترجیح داده شده از ماه فوریه است. 24 ، 2020. درصد اطلاعات مربوط به مالکیت نشان داده شده در جدول ، مستثنی نیست (i) 21،132 سهام سهام محدود را می توان در طی 12 ماه آینده به سه کارگر مساوی در سه تران مساوی به کارمندان متوقف منتقل کرد ، و طبق شرایط این توافق نامه سهام محدود محدود کارمندان ، و ( ب) 400000 سهام معوق و غیرمستقیم شرکت ("سهام معوق") صادر شده به مایکل هوسه ، عضو هیئت مدیره و کارمند شرکت ، به موجب توافق نامه سهام معوق که در تاریخ 4 ژانویه سال 2019 بین شرکت و آقای Howse (به توافق رسیده است) صادر شده است. "موافقت سهام معوق"). از تاریخ 24 فوریه 2020 ، هیچ یک از دارندگان سهام A ترجیحی سهام سهام خود را از سهام A سهامدار ترجیحی به سهام سهام عادی تبدیل نکرده است.
      

مالکیت منافع مطابق با قوانین SEC تعیین می شود و به طور کلی به این معنی است که یک شخص در صورت داشتن حق رای یا سرمایه گذاری یا سرمایه گذاری آن امنیت ، از جمله اوراق بهادار قابل استفاده برای مالکیت از یک امنیت برخوردار است. سهام بورس سهامي در شصت (60) روز از 24 فوريه 2020. به استثناي پاورقي هاي زير ، ما بر اساس اطلاعات ارائه شده به ما معتقديم كه افراد ذكر شده در جدول زير تنها قدرت رأي دادن و سرمايه گذاري با احترام به همه سهام سهام عادی نشان داد كه آنها در صورت لزوم مشمول قوانین مربوط به املاك در جامعه می شوند.
      

به منظور محاسبه درصد سهام باقیمانده سهام مشترک ما که توسط هر شخص یا گروهی از افراد ذکر شده در بالا برگزار می شود ، هر سهام سهامی که این شخص یا اشخاص حق دارند ظرف شصت (60) روز از ماه فوریه بدست آورند. 24 ، 2020 به نظر می رسد برجسته است ، اما به منظور محاسبه درصد مالکیت درصد از افراد دیگر برجسته تلقی نمی شود. درج هر سهام سهامی از سهام عادی که به عنوان مالکیت ذی نفع ذکر شده است ، پذیرش مالکیت سودمند نیست.
      

بجز آنچه در زیر ذکر شد ، آدرس افراد ذکر شده در جدول c / o Summit Wireless Technologies، Inc. ، 6840 از طریق دل Oro ، Ste. 280 ، سان خوزه ، کالیفرنیا 95119.
      

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پيشنهاد تأسيس هيئت مديره براي اصلاح گواهينامه ثبت شرکت ، به عنوان اصلاح شده ، براي اثرگذاري سهام انحصاري شركت خارجي شركت در شماره 1965 (اولين سال 1937) ] خلاصه

هيئت ما به اتفاق آرا پيشنهاد اصلاح گواهينامه ادغام را براي تحقق تقسيم سهام معكوس كليه سهام قابل توجه سهام عادي ما با نسبتي در محدوده يك براي چهار و يك براي – تصويب كرد. بیست ("تقسیم سهام معکوس"). در این پیشنهاد آمده است كه هیئت ما طبق ماده 242 (c) DGCL برای انتخاب باید اختیار خود را داشته باشد ، زیرا تعیین می كند به نفع شركت باشد ، صرفاً به منظور حفظ لیست سهام مشترک ما در سرمایه Nasdaq. بازار ("Nasdaq") ، چه تأثیر داشته باشد یا نه ممکن است تقسیم سهام معکوس را در اسرع وقت عملی و حداکثر تا تاریخ انقضا (مطابق شکل زیر) تأثیر بگذارد. درصورتیکه هیئت مدیره با تقسیم سهام معکوس اقدام کند ، نسبت دقیق آن باید در کل فوق در محدوده فوق تعیین شود ، همانطور که هیئت ما در اختیار خود تعیین می کند. هیئت ما معتقد است که در دسترس بودن نسبت های سهام تقسیم سهام معکوس ، انعطاف پذیری آن را برای اجرای تقسیم سهام معکوس به روشی طراحی شده برای به حداکثر رساندن منافع پیش بینی شده برای شرکت و سهامداران آن فراهم می کند. در تعیین اینکه آیا تکمیل تقسیم سهام معکوس پس از دریافت تأیید صاحب سهام را انجام دهیم ، هیئت مدیره ما می تواند از جمله موارد دیگری فاکتورهایی مانند:
      

اگر هیئت ما به صلاحدید خود تعیین کند که تأثیر سهام تقسیم سهام برای حفظ لیست سهام مشترک ما در Nasdaq ضروری است و نیز هست. in our best interest, the Reverse Stock Split will become effective upon filing of an amendment to our Certificate of Incorporation with the Secretary of State of the State of Delaware. The amendment filed thereby will set forth the number of shares of Common Stock to be combined into one share of our Common Stock within the limits set forth in this proposal. Except for adjustments that may result from the treatment of fractional shares as described below, each stockholder will hold the same percentage of our outstanding Common Stock immediately following the Reverse Stock Split as such stockholder holds immediately prior to the Reverse Stock Split.
      

The text of the form of amendment to the Certificate of Incorporation, which would be filed with the Secretary of State of the State of Delaware to effect the Reverse Stock Split, is set forth in Appendix A to this Proxy Statement. The text of the form of amendment accompanying this Proxy Statement is, however, subject to amendment to reflect the exact ratio for the Reverse Stock Split and any changes that may be required by the office of the Secretary of State of the State of Delaware or that the Board may determine to be necessary or advisable ultimately to comply with applicable law and to effect the Reverse Stock Split.
      

Our Board believes that approval of the amendment to the Certificate of Incorporation to effect the Reverse Stock Split is in the best interests of the Company and our stockholders and has unanimously recommended that the proposed amendment be presented to our stockholders for approval.
      

Board Discretion to Implement the Reverse Stock Split

The Reverse Stock Split will be effected, if at all, only upon a determination by our Board that the Reverse Stock Split (with an exchange ratio determined by our Board as described above) is necessary to maintain the listing of our Common Stock on Nasdaq and is also in the Company's best interest. Such determination shall be based upon certain factors, including, but not limited to, the historical trading price and trading volume of our Common Stock, the then prevailing trading price and trading volume of our Common Stock and the anticipated impact of the Reverse Stock Split on the trading market for our Common Stock, our ability to have our shares of Common Stock remain listed on Nasdaq, the anticipated impact of the Reverse Stock Split on our ability to raise additional financing; and prevailing general market and economic conditions. No further action on the part of stockholders would be required to either implement or not implement the Reverse Stock Split. If our stockholders approve the proposal, and the Board determines to effect the Reverse Stock Split, we would communicate to the public, prior to the Effective Date (as defined below), additional details regarding the Reverse Stock Split, including the specific ratio selected by the Board.
      

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If the Board does not implement the Reverse Stock Split prior to the Expiration Date, the authority granted in this proposal to implement the Reverse Stock Split will terminate. The Board is requesting authorization to implement the Reverse Stock Split up until such time in the event the Company needs to utilize this Proposal No. 1 subsequent to the expiration of the 'Second Nasdaq Extension Period' (described below under 'Purpose of the Reverse Stock Split'). However, the Board of Directors would only want to implement the Reverse Stock Split to remain on Nasdaq or to regain compliance with Nasdaq. As such, the Board reserves its right to elect not to proceed with the Reverse Stock Split if it determines, in its sole discretion, that this proposal is no longer in the Company's best interest. In the event that our stock price satisfies the minimum bid price requirement of at least $1.00 for at least ten (10) consecutive business days without requiring the Reverse Stock Split, then the Board will not implement the Reverse Stock Split.
      

Effective Date

If the proposed amendment to the Certificate of Incorporation to give effect to the Reverse Stock Split is approved at the Special Meeting and the Board determines to effect the Reverse Stock Split, the Reverse Stock Split will become effective as of 5:30 p.m. Eastern Time on the effective date of the certificate of amendment to our Certificate of Incorporation with the office of the Secretary of State of the State of Delaware, which we would expect to be the date of filing (the 'Effective Date'). Except as explained below with respect to fractional shares, each issued share of Common Stock immediately prior to the Effective Date will automatically be changed, as of the Effective Date, into a fraction of a share of Common Stock based on the exchange ratio within the approved range determined by the Board.
      

Purpose of the Reverse Stock Split

The sole purpose for the Reverse Stock Split is based on the Board's belief that the Reverse Stock Split will likely be necessary to maintain the listing of our Common Stock on Nasdaq. In the event that the Board, in its sole discretion determines to implement the Reverse Stock Split for such purpose, the Board believes that the Reverse Stock Split could also improve the marketability and liquidity of the Common Stock.
      

Maintain our listing on Nasdaq. Our Common Stock is traded on Nasdaq. On October 16, 2019, we received a written notification from Nasdaq indicating that we were not in compliance with Nasdaq Listing Rule 5550(a)(2) (the 'Minimum Bid Requirement'), as the closing bid price of the Common Stock was below $1.00 per share for the previous thirty (30) consecutive business days. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was granted a 180-calendar day compliance period, or until April 13, 2020 (the 'Expiration Date'), to regain compliance with the Minimum Bid Requirement. During the compliance period, the Common Stock will continue to be listed and traded on Nasdaq. To regain compliance, the closing bid of the Common Stock must meet or exceed $1.00 per share for at least ten (10) consecutive business days during such 180-calendar day grace period. If we are not in compliance by April 13, 2020, we may be afforded a second 180 calendar day grace period, or until October 10, 2020 (the 'Second Nasdaq Extension Period'), within which to comply with the Minimum Bid Requirement. To qualify, we would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq, with the exception of the Minimum Bid Requirement. In addition, we would be required to notify Nasdaq of our intent to cure such minimum bid price deficiency by effecting a reverse stock split, if necessary. If we do not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that our shares of Common Stock will be subject to delisting. We intend to monitor the closing bid price for our Common Stock between now and April 13, 2020, and will consider available options to resolve our noncompliance with the Minimum Bid Requirement, as may be necessary. As of the date of this Proxy Statement, our stock price has not had a minimum bid price of at least $1.00 for at least ten (10) consecutive business days. In the event that our stock price satisfies the Minimum Bid Requirement of at least $1.00 for at least ten (10) consecutive business days without requiring the Reverse Stock Split, the Board will not implement the Reverse Stock Split.
      

On November 18, 2019, we received a written notification from Nasdaq indicating that we did not comply with Nasdaq Listing Rule 5550(b), which requires a minimum $2,500,000 stockholders' equity (the 'Stockholders' Equity Requirement'), among other continued listing criteria. We were required to submit to Nasdaq a plan to regain compliance with the Stockholders' Equity Requirement for consideration by the Nasdaq Listing Qualifications staff ('Nasdaq Staff') by no later than January 2, 2020. On January 2, 2020, we submitted a plan to regain compliance (the 'Compliance Plan') to the Nasdaq Staff. As of February 24, 2020, the Compliance Plan remains under review by the Nasdaq Staff. If we fail to achieve compliance with the Stockholders' Equity Requirement or if the Compliance Plan is accepted by the Nasdaq Staff, but we fail to comply with such plan, we may be delisted from Nasdaq. Additionally, in the event that we achieve compliance with the Minimum Bid Requirement, but fail to achieve compliance with the Stockholders' Equity Requirement, which operates independently from the Minimum Bid Requirement, we may be delisted from Nasdaq.
      

The Board has considered the potential harm to the Company and its stockholders should Nasdaq delist our Common Stock from Nasdaq. Delisting our Common Stock could adversely affect the liquidity of our Common Stock because alternatives, such as the OTC Bulletin Board and the pink sheets, are generally considered to be less efficient markets. An investor likely would find it less convenient to sell, or to obtain accurate quotations in seeking to buy our Common Stock on an over-the-counter market. Many investors likely would not buy or sell our Common Stock due to difficulty in accessing over-the-counter markets, policies preventing them from trading in securities not listed on a national exchange or other reasons. The Board believes that the Reverse Stock Split is a potentially effective means for us to maintain compliance with the rules of Nasdaq and to avoid, or at least mitigate, the likely adverse consequences of our Common Stock being delisted from Nasdaq by producing the immediate effect of increasing the bid price of our Common Stock.
      

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Improve the marketability and liquidity of the Common Stock. In the event that the Board elects to implement the Reverse Stock Split in order to avoid the delisting of our Common Stock from Nasdaq, we also believe that the increased market price of our Common Stock expected as a result of implementing the Reverse Stock Split will improve the marketability and liquidity of our Common Stock and will encourage interest and trading in our Common Stock. A reverse stock split could allow a broader range of institutions to invest in our Common Stock (namely, funds that are prohibited from buying stocks whose price is below a certain threshold), potentially increasing the liquidity of our Common Stock. A reverse stock split could help increase analyst and broker interest in our stock as their policies can discourage them from following or recommending companies with low stock prices. Because of the trading volatility often associated with low-priced stocks, many brokerage houses and institutional investors have internal policies and practices that either prohibit them from investing in low-priced stocks or tend to discourage individual brokers from recommending low-priced stocks to their customers. Some of those policies and practices may function to make the processing of trades in low-priced stocks economically unattractive to brokers. Additionally, because brokers' commissions on low-priced stocks generally represent a higher percentage of the stock price than commissions on higher-priced stocks, the current average price per share of our Common Stock can result in individual stockholders paying transaction costs representing a higher percentage of their total share value than would be the case if the share price were substantially higher. It should be noted, however, that the liquidity of our Common Stock may in fact be adversely affected by the proposed Reverse Stock Split given the reduced number of shares of Common Stock that would be outstanding after the Reverse Stock Split.
      

For the above reasons, we believe that providing the Board with the ability to effect the Reverse Stock Split, in the event that it determines, in its sole discretion, that implementing the Reverse Stock Split will help us regain and maintain compliance with the Nasdaq listing requirements and, as a result, could also improve the marketability and liquidity of our Common Stock, is in the best interests of the Company and our stockholders. However, regardless as to whether or not the Board believes that implementing the Reverse Stock Split could help us regain and maintain compliance with the Nasdaq listing requirements, the Board reserves the right not to implement the Reverse Stock Split if it determines, in its sole discretion, that it otherwise would not be in our and our stockholders' best interests.
      

Risks of the Proposed Reverse Stock Split

We cannot assure you that the proposed Reverse Stock Split will increase our stock price and have the desired effect of maintaining compliance with the rules of Nasdaq. The Board of Directors expects that the Reverse Stock Split of our Common Stock will increase the market price of our Common Stock so that we are able to regain and maintain compliance with Nasdaq's minimum bid price listing standard. However, the effect of the Reverse Stock Split upon the market price of our Common Stock cannot be predicted with any certainty, and the history of similar reverse stock splits for companies in like circumstances is varied. Under applicable Nasdaq rules, in order to regain compliance with the $1.00 minimum closing bid price requirement and maintain our listing on Nasdaq, the $1.00 closing bid price must be maintained for a minimum of ten (10) consecutive business days. In determining whether to monitor bid price beyond ten business days, Nasdaq will consider the following four factors: (1) margin of compliance (the amount by which the price is above the $1.00 minimum standard); (2) trading volume (a lack of trading volume may indicate a lack of bona fide market interest in the security at the posted bid price); (3) the market maker montage (the number of market makers quoting at or above $1.00 and the size of their quotes); and (4) the trend of the stock price. Accordingly, we cannot assure you that we will be able to maintain our Nasdaq listing after the Reverse Stock Split is effected or that the market price per share after the Reverse Stock Split will exceed or remain in excess of the $1.00 minimum bid price for a sustained period of time.
      

It is possible that the per share price of our Common Stock after the Reverse Stock Split will not rise in proportion to the reduction in the number of shares of our Common Stock outstanding resulting from the Reverse Stock Split, and the market price per post-Reverse Stock Split share may not exceed or remain in excess of the $1.00 minimum bid price for a sustained period of time, and the Reverse Stock Split may not result in a per share price that would attract brokers and investors who do not trade in lower priced stocks. Even if we effect the Reverse Stock Split, the market price of our Common Stock may decrease due to factors unrelated to the stock split. In any case, the market price of our Common Stock may also be based on other factors which may be unrelated to the number of shares outstanding, including our future performance. If the Reverse Stock Split is consummated and the trading price of the Common Stock declines, the percentage decline as an absolute number and as a percentage of our overall market capitalization may be greater than would occur in the absence of the Reverse Stock Split. Even if the market price per post-Reverse Stock Split share of our Common Stock remains in excess of $1.00 per share, we may be delisted due to a failure to meet other continued listing requirements, including Nasdaq requirements related to the minimum stockholders' equity, the minimum number of shares that must be in the public float, the minimum market value of the public float and the minimum number of round lot holders.
      

The proposed Reverse Stock Split may decrease the liquidity of our Common Stock. The liquidity of our Common Stock may be harmed by the proposed Reverse Stock Split given the reduced number of shares of Common Stock that would be outstanding after the Reverse Stock Split, particularly if the stock price does not increase as a result of the Reverse Stock Split. In addition, investors might consider the increased proportion of unissued authorized shares of Common Stock to issued shares to have an anti-takeover effect under certain circumstances, because the proportion allows for dilutive issuances which could prevent certain stockholders from changing the composition of the Board or render tender offers for a combination with another entity more difficult to successfully complete. The Board does not intend for the Reverse Stock Split to have any anti-takeover effects.
      

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Principal Effects of the Reverse Stock Split

Common Stock. If this proposal is approved by the stockholders at the Special Meeting and the Board determines to effect the Reverse Stock Split and thus amend the Certificate of Incorporation, the Company will file a certificate of amendment to the Certificate of Incorporation with the Secretary of State of the State of Delaware. Except for adjustments that may result from the treatment of fractional shares as described below, each issued share of Common Stock immediately prior to the Effective Date will automatically be changed, as of the Effective Date, into a fraction of a share of Common Stock based on the exchange ratio within the approved range determined by the Board. In addition, proportional adjustments will be made to the maximum number of shares of Common Stock issuable under, and other terms of, our stock plans, as well as to the number of shares of Common Stock issuable under, and the exercise price of, our outstanding warrants.
      

Except for adjustments that may result from the treatment of fractional shares of Common Stock as described below, because the Reverse Stock Split would apply to all issued shares of our Common Stock, the proposed Reverse Stock Split would not alter the relative rights and preferences of our existing stockholders nor affect any stockholder's proportionate equity interest in the Company. For example, a holder of two percent (2%) of the voting power of the outstanding shares of our Common Stock immediately prior to the effectiveness of the Reverse Stock Split will generally continue to hold two percent (2%) of the voting power of the outstanding shares of our Common Stock immediately after the Reverse Stock Split. Moreover, the number of stockholders of record will not be affected by the Reverse Stock Split. The amendment to the Certificate of Incorporation itself would not change the number of authorized shares of our Common Stock. The Reverse Stock Split will have the effect of creating additional unreserved shares of our authorized Common Stock. Although at present we have no current arrangements or understandings providing for the issuance of the additional shares of Common Stock that would be made available for issuance upon effectiveness of the Reverse Stock Split, other than those shares needed to satisfy the conversion and/or exercise of the Company's outstanding convertible notes, convertible preferred stock and warrants, these additional shares of Common Stock may be used by us for various purposes in the future without further stockholder approval, including, among other things:
      

While the Reverse Stock Split will make additional shares of Common Stock available for the Company to use in connection with the foregoing, the primary purpose of the Reverse Stock Split is to increase our stock price in order to regain and maintain compliance with Nasdaq minimum bid price listing standard, which compliance will be the sole factor in determining the ratio of the Reverse Stock Split.
      

Effect on Employee Plans, Options, Restricted Stock Awards and Convertible or Exchangeable Securities. Pursuant to the terms of the Company's 2018 Long-Term Stock Incentive Plan (the 'Plan'), the Board or a committee thereof, as applicable, will adjust the number of shares of Common Stock available for future grant under the Plan, the number of shares of Common Stock underlying outstanding awards, the exercise price per share of outstanding stock options, and other terms of outstanding awards issued pursuant to the Plan to equitably reflect the effects of the Reverse Stock Split. Based upon the Reverse Stock Split ratio determined by the Board, proportionate adjustments are also generally required to be made to the per share exercise price and the number of shares of Common Stock issuable upon the exercise or conversion of outstanding options, and any convertible or exchangeable securities entitling the holders to purchase, exchange for, or convert into, shares of Common Stock. This would result in approximately the same aggregate price being required to be paid under such options, and convertible or exchangeable securities upon exercise, and approximately the same value of shares of Common Stock being delivered upon such exercise, exchange or conversion, immediately following the Reverse Stock Split as was the case immediately preceding the Reverse Stock Split. The number of shares of Common Stock subject to restricted stock awards and restricted stock units will be similarly adjusted, subject to our treatment of fractional shares of Common Stock. The number of shares of Common Stock reserved for issuance pursuant to these securities and our Plan will be adjusted proportionately based upon the Reverse Stock Split ratio determined by the Board, subject to our treatment of fractional shares of Common Stock.
      

Listing. Our shares of Common Stock currently trade on Nasdaq. The Reverse Stock Split will not directly affect the listing of our Common Stock on Nasdaq, although we believe that the Reverse Stock Split could potentially increase our stock price, facilitating compliance with Nasdaq's minimum bid price listing requirement. Following the Reverse Stock Split, our Common Stock will continue to be listed on Nasdaq under the symbol 'WISA,' although our Common Stock would have a new committee on uniform securities identification procedures, or CUSIP number, a number used to identify our Common Stock.
      

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'Public Company' Status. Our Common Stock is currently registered under Section 12(b) and 12(g) of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), and we are subject to the 'public company' periodic reporting and other requirements of the Exchange Act. The proposed Reverse Stock Split will not affect our status as a public company or this registration under the Exchange Act. The Reverse Stock Split is not intended as, and will not have the effect of, a 'going private transaction' covered by Rule 13e-3 under the Exchange Act.
      

Odd Lot Transactions. It is likely that some of our stockholders will own 'odd-lots' of less than 100 shares of Common Stock following the Reverse Stock Split. A purchase or sale of less than 100 shares of Common Stock (an 'odd lot' transaction) may result in incrementally higher trading costs through certain brokers, particularly 'full service' brokers, and generally may be more difficult than a 'round lot' sale. Therefore, those stockholders who own less than 100 shares of Common Stock following the Reverse Stock Split may be required to pay somewhat higher transaction costs and may experience some difficulties or delays should they then determine to sell their shares of Common Stock.
      

Authorized but Unissued Shares; Potential Anti-Takeover Effects. Our Certificate of Incorporation presently authorizes 200,000,000 shares of Common Stock and 20,000,000 shares of blank check preferred stock. The Reverse Stock Split would not change the number of authorized shares of the Common Stock or blank check preferred stock as designated. Therefore, because the number of issued and outstanding shares of Common Stock would decrease, the number of shares of Common Stock remaining available for issuance by us in the future would increase.
      

Such additional shares would be available for issuance from time to time for corporate purposes such as issuances of Common Stock in connection with capital-raising transactions and acquisitions of companies or other assets, as well as for issuance upon conversion or exercise of securities such as convertible preferred stock, convertible debt, warrants or options convertible into or exercisable for Common Stock. We believe that the availability of the additional shares of Common Stock will provide us with the flexibility to meet business needs as they arise, to take advantage of favorable opportunities and to respond effectively in a changing corporate environment. For example, we may elect to issue shares of Common Stock to raise equity capital, to make acquisitions through the use of stock, to establish strategic relationships with other companies, to adopt additional employee benefit plans or reserve additional shares of Common Stock for issuance under such plans, where the Board determines it advisable to do so, without the necessity of soliciting further stockholder approval, subject to applicable stockholder vote requirements under Delaware law and Nasdaq rules. If we issue additional shares of Common Stock for any of these purposes, the aggregate ownership interest of our current stockholders, and the interest of each such existing stockholder, would be diluted, possibly substantially.
      

The additional shares of our Common Stock that would become available for issuance upon an effective Reverse Stock Split could also be used by us to oppose a hostile takeover attempt or delay or prevent a change of control or changes in or removal of our management, including any transaction that may be favored by a majority of our stockholders or in which our stockholders might otherwise receive a premium for their shares of Common Stock over then-current market prices or benefit in some other manner. Although the increased proportion of authorized but unissued shares of Common Stock to issued shares of Common Stock could, under certain circumstances, have an anti-takeover effect, the Reverse Stock Split is not being proposed in order to respond to a hostile takeover attempt or to an attempt to obtain control of the Company.
      

Fractional Shares

We will not issue fractional certificates for post-Reverse Stock Split shares of Common Stock in connection with the Reverse Stock Split. To the extent any holders of pre-Reverse Stock Split shares of Common Stock are entitled to fractional shares of Common Stock as a result of the Reverse Stock Split, the Company will issue an additional share to all holders of fractional shares of Common Stock.
      

No Dissenters' Rights

Under Delaware law, our stockholders would not be entitled to dissenters' rights or rights of appraisal in connection with the implementation of the Reverse Stock Split, and we will not independently provide our stockholders with any such rights.
      

Certain United States Federal Income Tax Consequences

The following is a summary of certain United States federal income tax consequences of the Reverse Stock Split. It does not address any state, local or foreign income or other tax consequences, which, depending upon the jurisdiction and the status of the stockholder/taxpayer, may vary from the United States federal income tax consequences. It applies to you only if you held pre-Reverse Stock Split shares of Common Stock as capital assets for United States federal income tax purposes. This discussion does not apply to you if you are a member of a class of our stockholders subject to special rules, such as (a) a dealer in securities or currencies, (b) a trader in securities that elects to use a mark-to-market method of accounting for your securities holdings, (c) a bank, (d) a life insurance company, (e) a tax-exempt organization, (f) a person that owns shares of Common Stock that are a hedge, or that are hedged, against interest rate risks, (g) a person who owns shares of Common Stock as part of a straddle or conversion transaction for tax purposes or (h) a person whose functional currency for tax purposes is not the U.S. dollar. The discussion is based on the Internal Revenue Code of 1986, as amended (the 'Internal Revenue Code'), its legislative history, existing, temporary and proposed regulations under the Internal Revenue Code, published rulings and court decisions, all as of the date hereof. These laws, regulations and other guidance are subject to change, possibly on a retroactive basis. We have not sought and will not seek an opinion of counsel or a ruling from the Internal Revenue Service regarding the United States federal income tax consequences of the Reverse Stock Split.
      

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PLEASE CONSULT YOUR OWN TAX ADVISOR CONCERNING THE CONSEQUENCES OF THE REVERSE STOCK SPLIT IN YOUR PARTICULAR CIRCUMSTANCES UNDER THE INTERNAL REVENUE CODE AND THE LAWS OF ANY OTHER TAXING JURISDICTION.
      

Tax Consequences to United States Holders of Common Stock. A United States holder, as used herein, is a stockholder who or that is, for United States federal income tax purposes: (a) a citizen or individual resident of the United States, (b) a domestic corporation, (c) an estate whose income is subject to United States federal income tax regardless of its source, or (d) a trust, if a United States court can exercise primary supervision over the trust's administration and one or more United States persons are authorized to control all substantial decisions of the trust. This discussion applies only to United States holders.
      

Except for adjustments that may result from the treatment of fractional shares of Common Stock as described above, no gain or loss should be recognized by a stockholder upon such stockholder's exchange of pre-Reverse Stock Split shares of Common Stock for post-Reverse Stock Split shares of Common Stock pursuant to the Reverse Stock Split, and the aggregate adjusted basis of the post-Reverse Stock Split shares of Common Stock received will be the same as the aggregate adjusted basis of the Common Stock exchanged for such new shares. The stockholder's holding period for the post-Reverse Stock Split shares of Common Stock will include the period during which the stockholder held the pre-Reverse Stock Split shares of Common Stock surrendered.
      

Accounting Consequences

Following the Effective Date of the Reverse Stock Split, if any, the net income or loss and net book value per share of Common Stock will be increased because there will be fewer shares of the Common Stock outstanding. We do not anticipate that any other accounting consequences would arise as a result of the Reverse Stock Split.
      

Exchange of Stock Certificates

As of the Effective Date, each certificate representing shares of our Common Stock outstanding before the Reverse Stock Split will be deemed, for all corporate purposes, to evidence ownership of the reduced number of shares of our Common Stock resulting from the Reverse Stock Split. All shares underlying options, warrants and other securities exchangeable or exercisable for or convertible into Common Stock also automatically will be adjusted on the Effective Date.
      

Our transfer agent, VStock Transfer, LLC, will act as the exchange agent for purposes of exchanging stock certificates subsequent to the Reverse Stock Split. Shortly after the Effective Date, stockholders of record will receive written instructions requesting them to complete and return a letter of transmittal and surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the Reverse Stock Split. Certificates representing shares of Common Stock issued in connection with the Reverse Stock Split will continue to bear the same restrictive legends, if any, that were borne by the surrendered certificates representing the shares of Common Stock outstanding prior to the Reverse Stock Split. No new certificates will be issued until such stockholder has surrendered any outstanding certificates, together with the properly completed and executed letter of transmittal, to the exchange agent. Until surrendered, each certificate representing shares of Common Stock outstanding before the Reverse Stock Split would continue to be valid and would represent the adjusted number of shares of Common Stock, based on the ratio of the Reverse Stock Split.
      

Any stockholder whose stock certificates are lost, destroyed or stolen will be entitled to a new certificate or certificates representing post-Reverse Stock Split shares of Common Stock upon compliance with the requirements that we and our transfer agent customarily apply in connection with lost, destroyed or stolen certificates. Instructions as to lost, destroyed or stolen certificates will be included in the letter of instructions from the exchange agent.
      

Upon the Reverse Stock Split, we intend to treat stockholders holding our Common Stock in 'street name', through a bank, broker or other nominee, in the same manner as registered stockholders whose shares of Common Stock are registered in their names. Banks, brokers and other nominees will be instructed to effect the Reverse Stock Split for their beneficial holders holding our Common Stock in 'street name'. However, such banks, brokers and other nominees may have different procedures than registered stockholders for processing the Reverse Stock Split. If you hold your shares in 'street name' with a bank, broker or other nominee, and if you have any questions in this regard, we encourage you to contact your bank, broker or nominee.
      

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YOU SHOULD NOT DESTROY YOUR STOCK CERTIFICATES AND YOU SHOULD NOT SEND THEM NOW. YOU SHOULD SEND YOUR STOCK CERTIFICATES ONLY AFTER YOU HAVE RECEIVED INSTRUCTIONS FROM THE EXCHANGE AGENT AND IN ACCORDANCE WITH THOSE INSTRUCTIONS.
      

If any certificates for shares of Common Stock are to be issued in a name other than that in which the certificates for shares of Common Stock surrendered are registered, the stockholder requesting the reissuance will be required to pay to us any transfer taxes or establish to our satisfaction that such taxes have been paid or are not payable and, in addition, (a) the transfer must comply with all applicable federal and state securities laws, and (b) the surrendered certificate must be properly endorsed and otherwise be in proper form for transfer.
      

Book-Entry

The Company's registered stockholders may hold some or all of their shares electronically in book-entry form with our transfer agent. These stockholders do not have stock certificates evidencing their ownership of Common Stock. They are, however, provided with a statement reflecting the number of shares of Common Stock registered in their accounts.
      

Interests of Directors and Executive Officers

Our directors and executive officers have no substantial interests, directly or indirectly, in the matters set forth in this proposal except to the extent of their ownership of shares of our Common Stock and equity awards, including those granted to them under the Plan.
      

Vote Required and Recommendation

Delaware law provides that the affirmative vote of the holders of a majority of our Common Stock and the holders of a majority of our Series A Preferred Stock is required to approve the amendment to our Certificate of Incorporation to give effect to the Reverse Stock Split. Accordingly, the affirmative vote of a majority of the shares of Common Stock and Series A Preferred Stock outstanding on the Record Date and entitled to vote on the matter will be required to approve the Reverse Stock Split.
      

At the Special Meeting a vote will be taken on a proposal to amend the Company's Certificate of Incorporation to effect the Reverse Stock Split at the discretion of the Board of Directors.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE 'FOR' THE APPROVAL OF

PROPOSAL NO. 1.

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FUTURE STOCKHOLDER PROPOSALS

The Board has not yet determined the date on which the next Annual Meeting of Stockholders will be held. Stockholders may submit proposals on matters appropriate for stockholder action at annual meetings in accordance with the rules and regulations adopted by the SEC. Any proposal which an eligible stockholder desires to have included in our proxy statement and presented at the next Annual Meeting of Stockholders will be included in our proxy statement and related proxy card if it is received by us a reasonable time before we begin to print and send our proxy materials and if it complies with SEC rules regarding inclusion of proposals in proxy statements. In order to avoid controversy as to the date on which we receive a proposal, it is suggested that any stockholder who wishes to submit a proposal submit such proposal by certified mail, return receipt requested.
      

Other deadlines apply to the submission of stockholder proposals for the next Annual Meeting of Stockholders that are not required to be included in our proxy statement under SEC rules. With respect to these stockholder proposals for the next Annual Meeting of Stockholders, a stockholder's notice must be received by us a reasonable time before we begin to print and send our proxy materials. The form of proxy distributed by the Board for such meeting will confer discretionary authority to vote on any such proposal not received by such date. If any such proposal is received by such date, the proxy statement for the meeting will provide advice on the nature of the matter and how we intend to exercise our discretion to vote on each such matter if it is presented at that meeting.
      

EXPENSES AND SOLICITATION

We will bear the costs of printing and mailing proxies. In addition to soliciting stockholders by mail or through our regular employees, we may request banks, brokers and other custodians, nominees and fiduciaries to solicit their customers who have shares of our Common Stock registered in the name of a nominee and, if so, will reimburse such banks, brokers and other custodians, nominees and fiduciaries for their reasonable out-of-pocket costs. Solicitation by our officers and employees may also be made of some stockholders following the original solicitation.
      

OTHER BUSINESS

The Board knows of no other items that are likely to be brought before the Special Meeting except those that are set forth in the foregoing Notice of Special Meeting of Stockholders. If any other matters properly come before the Special Meeting, the persons designated on the enclosed proxy will vote in accordance with their judgment on such matters.
      

ADDITIONAL INFORMATION

We are subject to the information and reporting requirements of the Exchange Act, and in accordance therewith, we file periodic reports, documents and other information with the SEC relating to our business, financial statements and other matters. Such reports and other information may be accessed at www.sec.gov. You are encouraged to review our Annual Report on Form 10-K, together with any subsequent information we filed or will file with the SEC and other publicly available information. A copy of any public filing is also available, at no charge, by contacting our legal counsel, Sullivan & Worcester LLP, Attn: David E. Danovitch, Esq. at (212) 660-3060.
      

*************
      

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It is important that the proxies be returned promptly and that your shares of Common Stock and/or Series A Preferred Stock be represented. Stockholders are urged to mark, date, execute, and promptly return the accompanying proxy card.
      

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Appendix A

FORM OF

CERTIFICATE OF AMENDMENT

TO THE

CERTIFICATE OF INCORPORATION

OF

SUMMIT WIRELESS TECHNOLOGIES, INC.

Summit Wireless Technologies, Inc., a Delaware corporation (the 'Corporation'), does hereby certify as follows:
      

FIRST: The name of the Corporation is Summit Wireless Technologies, Inc.
      

SECOND: This Certificate of Amendment (this 'Certificate of Amendment') amends the provisions of the Corporation's Certificate of Incorporation, and any amendments thereto (the 'Certificate of Incorporation'), last amended by the certificate of amendment to the Certificate of Incorporation filed with the Secretary of State of the State of Delaware on September 11, 2018.
      

THIRD: Article Fourth of the Certificate of Incorporation is hereby amended by inserting the following provision below the last sentence in Article Fourth of the Certificate of Incorporation:
      

'Common Stock. Each holder of record of Common Stock shall have the right to one vote for each share of Common Stock registered in the holder's name on the books of the Corporation on all matters submitted to a vote of stockholders except as the right to exercise such vote may be limited by the provisions of this Certificate of Incorporation or of any class or series of Preferred Stock established hereunder. The holders of Common Stock shall be entitled to such dividends as may be declared by the Board from time to time, provided that required dividends, if any, on Preferred Stock have been paid or provided for. In the event of the liquidation, dissolution, or winding up, whether voluntary or involuntary, of the Corporation, the assets and funds of the Corporation available for distribution to stockholders, and remaining after the payment to holders of Preferred Stock of the amounts, if any, to which they are entitled, shall be divided and paid to the holders of Common Stock according to their respective shares.
      

Upon the filing of this certificate of amendment with the Secretary of State of the State of Delaware (the 'Effective Time'), each ________ outstanding shares of Common Stock (the 'Old Common Stock') shall be combined and converted into one (1) share of Common Stock (the 'New Common Stock'). This reverse stock split (the 'Reverse Split') of the outstanding shares of Common Stock shall not affect the total number of shares of capital stock, including the Common Stock, that the Company is authorized to issue, which shall remain as set forth under this Article Fourth.
      

The Reverse Split shall occur without any further action on the part of the Corporation or the holders of shares of New Common Stock and whether or not certificates representing such holders' shares prior to the Reverse Split are surrendered for cancellation. No fractional interest in a share of New Common Stock shall be deliverable upon the Reverse Split, all of which shares of New Common Stock be rounded up to the nearest whole number of such shares. All references to 'Common Stock' in the Corporation's certificate of incorporation, as amended, shall be to the New Common Stock.
      

The Reverse Split will be effectuated on a stockholder-by-stockholder (as opposed to certificate-by-certificate) basis. Certificates dated as of a date prior to the Effective Time representing outstanding shares of Old Common Stock shall, after the Effective Time, represent a number of shares equal to the same number of shares of New Common Stock as is reflected on the face of such certificates, divided by and rounded up to the nearest whole number. The Corporation shall not be obligated to issue new certificates evidencing the shares of New Common Stock outstanding as a result of the Reverse Split unless and until the certificates evidencing the shares held by a holder prior to the Reverse Split are either delivered to the Corporation or its transfer agent, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates.'
      

Notwithstanding the foregoing, the language under this Article Fourth shall not be amended in any way.
      

FOURTH: This Certificate of Amendment was duly adopted in accordance with the provisions of Sections 212 and 242 of the General Corporation Law of the State of Delaware.
      

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FIFTH: This Certificate of Amendment shall be effective as of 5:30 p.m. New York Time on the date written below.
      

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be signed by its officer thereunto duly authorized this day of , 20__.
      

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Please Vote, Sign, Date and Return Promptly in the Enclosed Envelope.

Special Meeting of Stockholders Proxy Card – Summit Wireless Technologies, Inc.

▼ DETACH PROXY CARD HERE TO VOTE BY MAIL ▼
      

        To change the address on your account, please check the box at right and indicate your new address in the space above. ¨
      

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EACH STOCKHOLDER IS URGED TO COMPLETE, DATE, SIGN AND PROMPTLY
RETURN THE ENCLOSED PROXY.

SUMMIT WIRELESS TECHNOLOGIES, INC.
      

SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON
      

MARCH 31, 2020
      

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

Revoking all prior proxies, the undersigned, a stockholder of Summit Wireless Technologies, Inc. (the 'Company'), hereby appoints Brett Moyer as attorney-in-fact and agents of the undersigned, with full power of substitution, to vote all of the shares of the Company's common stock, par value $0.0001 per share (the 'Common Stock') and/or Series A 8% Senior Convertible Preferred Stock, par value $0.0001 per share (the 'Series A Preferred Stock'), owned by the undersigned at the Special Meeting of Stockholders of the Company to be held on March 31, 2020, at the Company's offices at 8875 NE Von Neumann Dr., Suite 100, Hillsboro, Oregon 97006, at 2:00 p.m., Pacific Time, and at any adjournment thereof, as fully and effectively as the undersigned could do if personally present and voting, hereby approving, ratifying, and confirming all that said attorney and agent or his substitute may lawfully do in place of the undersigned as indicated on the reverse.
      

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS MADE, THE PROXY SHALL BE VOTED FOR AN AMENDMENT TO THE COMPANY'S CERTIFICATE OF INCORPORATION, AS AMENDED, TO EFFECT A REVERSE STOCK SPLIT OF THE COMPANY'S OUTSTANDING COMMON STOCK AT THE DISCRETION OF THE BOARD OF DIRECTORS.
      

PLEASE CHECK HERE IF YOU PLAN TO ATTEND THE SPECIAL MEETING OF STOCKHOLDERS ON MARCH 31, 2020 AT 2:00 P.M., PACIFIC TIME, AT THE COMPANY'S OFFICES AT 8875 NE VON NEUMANN DR., SUITE 100, HILLSBORO, OREGON 97006 ¨
      

To change the address on your account, please check the box at right and indicate your new address in the space above. ¨
      

(Continued and to be signed on Reverse Side)

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