PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:29 PM
| This Slide: #13 of 609 |
Slide #13. Digital Ally, Inc. — Preferred Stock Offering
Company:
Digital Ally, Inc. (NASDAQ:DGLY)
Date announced:
10/13/2022
Shares Offered:
1,400,000
Date of Pricing:
10/13/2022
Price Per Share:
$9.50
Preferred Stock Offering Details:
Digital Ally, Inc. (NASDAQ: DGLY) (the "Company"), today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 1,400,000 shares of Series A convertible redeemable preferred stock and 100,000 shares of Series B convertible redeemable preferred stock. Each share of Series A and Series B preferred stock has a purchase price of $9.50, representing an original issue discount of 5% of the $10.00 stated value of each share. Each share of Series A and Series B preferred stock is convertible into shares of the Company's common stock at an initial conversion price of $1.00 per share. Shares of the Series A and Series B preferred stock are convertible at the option of the holder at any time following the Company's receipt of stockholder approval of an amendment to the Company articles of incorporation to increase the number of shares of common stock that the Company is authorized to issue. The Company and the holders of the Series A and Series B preferred stock also entered into a registration rights agreement to register the resale of the shares of common stock issuable upon conversion of the Series A and Series B preferred stock. Total gross proceeds from the offerings, before deducting discounts, placement agent's fees and other estimated offering expenses, is $15.0 million.
Digital Ally operates through the following segments: Video Solutions, which produces digital video imaging, storage products, disinfectant and related safety products for use in law enforcement, security and commercial applications, as well as provides cloud and warranty solutions, and hardware sales for video and health safety solutions; Revenue Cycle Management, which provides working capital and back-office services to healthcare organizations; and Ticketing, which act as an intermediary between ticket buyers and sellers within its secondary ticketing platform, ticketsmarter.com, and it also acquires tickets from primary sellers to then sell through various platforms.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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