Digital Ally (DGLY) Prices 10M Share Registered Direct Offering at $3.095/Sh

Digital Ally, Inc., (NASDAQ: DGLY) today announced that it has entered into a securities purchase agreement with institutional investors for the issuance and sale of 10,000,000 its shares of common stock (pursuant to the direct sale of shares of the Company’s common stock and pre-funded warrants issuable to investors who would beneficially own more than 9.99% of the Company’s outstanding shares of common stock) and warrants to purchase up to 10,000,000 of its shares of common stock at a price of $3.095 per share and accompanying warrant for aggregate gross proceeds of $30,950,000, in a registered direct offering priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $3.25 per share, are exercisable immediately and will expire five years following the date of issuance.

Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as exclusive placement agent for the offering.

The offering is expected to close on or about January 14, 2021, subject to the satisfaction of customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-239419) previously filed with the Securities and Exchange Commission (the "SEC") on June 25, 2020, and declared effective on July 2, 2020. The offering of the shares of common stock and accompanying warrants, and pre-funded warrants and accompanying warrants, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, describing the terms of the proposed offering, which will be filed with the SEC. The Company will also file a Form 8-K in connection with the securities purchase agreement and the closing of the offering.

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