DatChat prices 1.2M shares at $4.25 in registered direct offering

DatChat (DATS) has entered into securities purchase agreements with certain institutional investors for the purchase and sale of an aggregate of 1,200,000 shares of common stock at a purchase price of $4.25 per share in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to close on or about January 10, 2025, subject to the satisfaction of customary closing conditions. The Benchmark Company is acting as the sole placement agent for the offering. The gross proceeds from the offering are expected to be approximately $5.1 million, prior to deducting offering expenses payable by DatChat. DatChat intends to use the net proceeds from the offering for working capital and general corporate expenses.