DatChat, Inc. Announces Pricing of $1.8 Million Underwritten Public Offering of Common Stock
17 1월 2024 - 10:00PM
DatChat, Inc. (Nasdaq: DATS) (“Datchat” or the “Company”), a secure
messaging, social media, and metaverse company, today announced the
pricing of its underwritten public offering of 972,972 shares of
its common stock (or pre-funded warrants in lieu thereof) at a
public offering price of $1.85 per share, for aggregate gross
proceeds of approximately $1.8 million, prior to deducting
underwriting discounts and other offering expenses. In addition,
the Company has granted the underwriters a 45-day option to
purchase up to an additional 145,945 shares of common stock (or
pre-funded warrants in lieu thereof) at the public offering price
per share, less the underwriting discounts to cover
over-allotments, if any. The offering is expected to close on
January 19, 2024, subject to satisfaction of customary closing
conditions.
EF Hutton LLC is acting as the sole book-runner
for the offering.
The securities are being offered by the Company
pursuant to a "shelf" registration statement on Form S-3 (File No.
333-268058), which was filed with the U.S. Securities and Exchange
Commission (“SEC”) on October 28, 2022, as amended on November 18,
2022, and declared effective by the SEC on December 6, 2022, and
the accompanying prospectus contained therein.
The offering is being made only by means of a
prospectus supplement and accompanying prospectus. A prospectus
supplement describing the terms of the public offering will be
filed with the SEC and will form a part of the effective
registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to this offering have been filed
with the SEC.
Copies of the prospectus supplement and the
accompanying prospectus relating to this offering may be obtained,
when available, on the SEC’s website at http://www.sec.gov or by
contacting EF Hutton LLC Attention: Syndicate Department, 590
Madison Avenue, 39th Floor, New York, NY 10022, by email at
syndicate@efhuttongroup.com, or by telephone at (212) 404-7002.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, 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. Any offer, if at all, will be made only by means of
the prospectus supplement and accompanying prospectus forming a
part of the effective registration statement.
About DatChat Inc.
DatChat Inc. is a secure messaging, metaverse,
and social media company that not only focuses on protecting
privacy on personal devices, but also protects user information
after it is shared with others. The DatChat Messenger & Private
Social Network presents technology that allows users to change how
long their messages can be viewed before or after users send them,
prevents screenshots, and hides encrypted photos in plain sight on
camera rolls. DatChat's patented technology offers users a
traditional texting experience while providing control and security
for their messages. With the DatChat Messenger, a user can decide
how long their messages last on a recipient's device, while feeling
secure that at any time, they can delete individual messages or
entire message threads, making it like the conversation never
happened.
Notice Regarding Forward-Looking
Statements
The information contained herein includes
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. These statements include, among
others, statements regarding the proposed public offering, and the
timing of the offering. Forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
"may," "will," "should," "would," "expect," "plan," "believe,"
"intend," "look forward," and other similar expressions among
others. These statements relate to future events or to the
Company’s future financial performance, and involve known and
unknown risks, uncertainties and other factors that may cause the
Company’s actual results to be materially different from any future
results, levels of activity, performance or achievements expressed
or implied by these forward-looking statements. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company’s control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. Any forward-looking
statement reflects the Company’s current views with respect to
future events and is subject to these and other risks,
uncertainties and assumptions relating to the Company’s operations,
results of operations, growth strategy and liquidity. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company’s most recent Annual Report on Form 10-K and other filings
with the Securities and Exchange Commission. Investors and security
holders are urged to read these documents free of charge on the
SEC’s website at http://www.sec.gov. Except as may be required by
applicable law, The Company assumes no obligation to publicly
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, whether
as a result of new information, future events or otherwise.
Contact:ir@datchats.com800-658-8081
DatChat (NASDAQ:DATS)
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