DatChat, Inc. announced on January 8, 2025, that it has entered into securities purchase agreements for a registered direct offering. The offering involves the sale of an aggregate of 1,200,000 shares of common stock at a purchase price of $4.25 per share. This offering is priced at-the-market under Nasdaq rules.
The gross proceeds from this offering are expected to be approximately $5.1 million, before deducting offering expenses payable by DatChat. The company intends to use the net proceeds for working capital and general corporate expenses. The offering is expected to close on or about January 10, 2025, subject to customary closing conditions.
This equity raise is a significant financing event for DatChat, providing capital to support its ongoing operations and strategic initiatives. Securing these funds is important for the company as it continues to develop and launch its Myseum platform and other privacy-focused technologies.
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