No one knows
No one knows what they'll do with proceeds. From today's 424(b) 5 filing..."USE OF PROCEEDS
We estimate that the net proceeds we will receive from this offering will be approximately $2,743,000 (or $4,734,000 if the warrants are fully exercised) after deducting the estimated offering expenses. We will retain broad discretion over the use of the net proceeds from the sale of our Class A common stock offered hereby. We currently anticipate using the net proceeds from the sale of our Class A common stock hereby primarily for working capital.
We may also use a portion of the net proceeds to acquire or invest in businesses complementary to Wave's business, products and technologies. Although we currently have no specific arrangements with respect to acquisitions, we evaluate acquisition opportunities and engage in related discussions from time to time. "