DatChat, Inc. Announces Pricing of $5.1 Million Registered Direct Offering Priced At-The Market Under Nasdaq Rules

Core Viewpoint - DatChat, Inc. has announced a registered direct offering of 1,200,000 shares of common stock at a price of $4.25 per share, expected to close around January 10, 2025, subject to customary conditions [1][2]. Group 1: Offering Details - The gross proceeds from the offering are anticipated to be approximately $5.1 million before deducting offering expenses [2]. - The offering is being facilitated by The Benchmark Company, LLC, which is acting as the sole placement agent [2]. - The shares are being offered under an effective "shelf" registration statement filed with the SEC on October 28, 2022, and declared effective on December 6, 2022 [3]. Group 2: Use of Proceeds - DatChat intends to utilize the net proceeds from the offering for working capital and general corporate expenses [2]. Group 3: Company Overview - DatChat, Inc. specializes in secure messaging, social media, and metaverse technologies, focusing on user privacy and control over shared information [6]. - The company's technology allows users to manage the visibility duration of their messages and prevents screenshots, enhancing message security [6].