Digital Ally (NASDAQ: DGLY) is a leading provider of video solutions that develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security. The company recently announced the closing of a private placement with certain institutional investors. The transactions resulted in aggregate gross cash proceeds of approximately $2.9 million before deductions. Digital Ally intends to use the net proceeds from the private placement for inventory purchases, artist costs for upcoming festivals, transaction cost, expanded sales, marketing and general working capital. The company issued an aggregate of 1,195,219 units at an effective unit price of $2.51 per unit. Each unit consisted of one share of common stock (or one pre-funded warrant in lieu thereof), one Series A warrant exercisable for one share of common stock at an initial exercise price of $2.51 per share and one Series B warrant at an exercise price of $0.001 to purchase such number of shares of common stock as will be determined on the Reset Date (as defined in the Series B warrant). The private placement closed on June 25, 2024, with Aegis Capital Corp. acting as the Exclusive Placement Agent.
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About Digital Ally Inc.
Digital Ally specializes in the development and manufacturing of video and analytics solutions for law enforcement, emergency management, and commercial applications. With a focus on delivering reliable and innovative technology, Digital Ally empowers organizations to enhance safety, streamline operations, and mitigate risks. For more information about the company, visit www.digitalally.com.
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