Digital Ally (DGLY) Prices 14.3M Share Registered Direct Offering at $2.80/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 14,300,000 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, otherwise, beneficially own more than 9.99% of the Company’s outstanding shares of common stock, if issued shares of common stock) and warrants to purchase up to 14,300,000 of its shares of common stock at a price of $2.80 per share and accompanying warrant for aggregate gross proceeds of $40,040,000, 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 February 1, 2021, subject to the satisfaction of customary closing conditions.

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