Digital Ally, Inc. announced on February 14, 2025, the closing of its previously announced firm commitment underwritten public offering, generating approximately $15.0 million in gross proceeds before deducting underwriting fees and other offering expenses. The offering was made pursuant to a registration statement declared effective by the SEC on February 12, 2025.
The offering consisted of 100,000,000 Common Units or Pre-Funded Units. Each unit included one share of Common Stock or one Pre-Funded Warrant, one Series A Registered Common Warrant to purchase one share at an exercise price of $0.1875, and one Series B Registered Common Warrant to purchase one share at an exercise price of $0.30.
Aegis Capital Corp., acting as the sole book-running manager, exercised its over-allotment option on February 14, 2025, purchasing an additional 15,000,000 Series A Warrants and 15,000,000 Series B Warrants. The company expects to use the net proceeds for general corporate purposes and working capital.
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