Digital Ally Announces Closing of Approximately $2.9 Million Private Placement

Core Viewpoint - Digital Ally, Inc. has successfully closed a private placement with institutional investors, raising approximately $2.9 million to support various operational needs [1][3]. Group 1: Private Placement Details - The private placement involved the issuance of 1,195,219 units at an effective price of $2.51 per unit, each consisting of one share of common stock or one pre-funded warrant, along with Series A and Series B warrants [2]. - Series A warrants are exercisable for one share of common stock at an initial price of $2.51 per share, with a term of 5 years, while Series B warrants have an exercise price of $0.001 and are exercisable until fully exercised [2]. - The closing of the private placement occurred on June 25, 2024, with Aegis Capital Corp. acting as the Exclusive Placement Agent [3][4]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for inventory purchases, artist costs for upcoming festivals, transaction costs, expanded sales, marketing, and general working capital [1]. Group 3: Company Overview - Digital Ally, Inc. specializes in developing and manufacturing video and analytics solutions for law enforcement, emergency management, and commercial applications, focusing on enhancing safety and streamlining operations [5].