DIGITAL ALLY ANNOUNCES PROPOSED UNDERWRITTEN PUBLIC OFFERING OF COMMON STOCK
January 06 2021 - 6:16PM
Digital Ally, Inc. (
NASDAQ: DGLY) (the
“Company”), which develops, manufactures and markets advanced
video recording products and other critical safety products for law
enforcement, emergency management, fleet safety and
security, today announced that it intends to offer shares of
its common stock for sale in an underwritten public offering. In
addition, the Company expects to grant the underwriter a 45-day
option to purchase up to an additional 15 percent of the shares of
common stock offered in the public offering solely to cover
over-allotments, if any. The Company intends to use the net
proceeds from this offering for working capital, product
development, order fulfillment and for general corporate purposes.
The offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Aegis Capital Corp. is acting as the sole
book-running manager for the offering.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (No. 333-239419)
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”) on June 25, 2020 and declared effective by the SEC on
July 2, 2020. A preliminary prospectus supplement and accompanying
prospectus describing the terms of the proposed offering will be
filed with the SEC and will be available on the SEC’s website
located at http://www.sec.gov. Electronic
copies of the preliminary prospectus supplement and the
accompanying prospectus may be obtained, when available, by
contacting Aegis Capital Corp., Attention: Syndicate Department,
810 7th Avenue, 18th floor, New York, NY 10019, by email
at syndicate@aegiscap.com, or by telephone at
(212) 813-1010. Before investing in this offering, interested
parties should read in their entirety the prospectus supplement and
the accompanying prospectus and the other documents that the
Company has filed with the SEC that are incorporated by reference
in such prospectus supplement and the accompanying prospectus,
which provide more information about the Company and such
offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Digital Ally
Digital Ally®, headquartered in
Lenexa, KS, specializes in the design and manufacturing of high
quality video recording equipment, video analytic software and
disinfectant and related safety products. Digital Ally pushes the
boundaries of technology in industries such as law enforcement,
emergency management, fleet safety, safety products and security.
Digital Ally’s complete product solutions include vehicle and body
cameras, flexible software storage, automatic recording technology
and various critical safety products. These products work
seamlessly together and are simple to install and operate. In
addition, Digital Ally launched virus-response product lines
including a non-contact thermometer/controlled-entry device under
the Company’s ThermoVu™ brand and an EPA Category IV
disinfectant/sanitizer under the Company’s Shield™ brand. The
Company has also recently launched its Shield line of PPE products,
including electrostatic sprayers, masks and gloves. Digital Ally
products are sold by domestic direct sales representatives and
international distributors worldwide.
For additional news and information please
visit www.digitalallyinc.com or follow
additional Digital Ally, Inc. social media channels here:
Contact Information Stanton Ross, CEO Tom
Heckman, CFO Digital Ally, Inc. 913-814-7774
info@digitalallyinc.com
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Act of 1934. These
forward-looking statements are based largely on the expectations or
forecasts of future events, can be affected by inaccurate
assumptions, and are subject to various business risks and known
and unknown uncertainties, a number of which are beyond the control
of management. Therefore, actual results could differ materially
from the forward-looking statements contained in this press
release. A wide variety of factors that may cause actual results to
differ from the forward-looking statements include, but are not
limited to, the following: the Company's ability to complete
the financing, its intended use of proceeds, the Company’s ability
to comply with the applicable continued listing requirements or
standards of Nasdaq, competition from larger, more established
companies with far greater economic and human resources; its
ability to attract and retain customers and quality employees; the
effect of changing economic conditions; and changes in government
regulations, tax rates and similar matters. These cautionary
statements should not be construed as exhaustive or as any
admission as to the adequacy of the Company's disclosures. The
Company cannot predict or determine after the fact what factors
would cause actual results to differ materially from those
indicated by the forward-looking statements or other statements.
The reader should consider statements that include the words
"believes," "expects," "anticipates," "intends," "estimates,"
"plans," "projects," "should," or other expressions that are
predictions of or indicate future events or trends, to be uncertain
and forward-looking. The Company does not undertake to publicly
update or revise forward-looking statements, whether as a result of
new information, future events or otherwise. Additional information
respecting factors that could materially affect the Company and its
operations are contained in its shelf registration statement on
Form S-3 (No. 333-239419), as filed with the Securities and
Exchange Commission.
Digital Ally (NASDAQ:DGLY)
Historical Stock Chart
From Apr 2024 to May 2024
Digital Ally (NASDAQ:DGLY)
Historical Stock Chart
From May 2023 to May 2024