DIGITAL ALLY, INC. (NASDAQ:DGLY) Files An 8-K Other Events

DIGITAL ALLY, INC. (NASDAQ:DGLY) Files An 8-K Other Events
Item 8.01 Other Events.

As previously disclosed on the Current Report on Form 8-K, filed by Digital Ally, Inc. (the “Company”) on June 4, 2020, the Company consummated an underwritten public offering (the “Offering”) of 3,090,909 shares (the “Firm Shares”) of common stock, par value $0.001 per share, of the Company (the “Common Stock”). The Offering was conducted to an underwriting agreement, dated June 2, 2020 (the “Underwriting Agreement”), between the Company and Aegis Capital Corp., as representative of the underwriters (the “Underwriters”). The Firm Shares were sold at a public offering price of $1.65 per share. to the Underwriting Agreement, the Company granted the Underwriters a forty-five (45)-day option to purchase up to an additional 463,636 shares of Common Stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any (the “Option Shares” and together with the Firm Shares, the “Shares”).

The Offering of the Shares were registered to the Company’s effective shelf registration statement on Form S-3 (File No. 333-225227) (the “Registration Statement”), which was initially filed with the U.S. Securities and Exchange Commission on May 25, 2018, and was declared effective on June 6, 2018, and the related base prospectus included in the Registration Statement, as supplemented by the prospectus supplement dated June 2, 2020 (the “Prospectus Supplement”).

On June 8, 2020, the Underwriters fully exercised their over-allotment option to acquire the Option Shares at $1.65 per share, and the offering of the Option Shares closed on June 8, 2020. The exercise of such over-allotment option resulted in additional gross proceeds, before deducting underwriting discounts and commissions and other estimated Offering expenses, of $764,999.40, which the Company intends to use for general corporate purposes, including for compliance with certain Nasdaq continued listing requirements and continued investments in the Company’s commercialization efforts.


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Digital Ally, Inc. produces digital video imaging and storage products for use in law enforcement, security and commercial applications. The Company’s products include in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a system that provides its law enforcement customers with audio/video surveillance from multiple vantage points and hands-free automatic activation of body-worn cameras and in-car video systems; a weather-resistant mobile digital video recording system for use on motorcycles, all-terrain vehicles (ATVs) and boats; a miniature digital video system designed to be worn on an individual’s body, and a hand-held laser speed detection device that it offers primarily to law enforcement agencies. The Company sells its products to law enforcement agencies and other security organizations, consumer and commercial fleet operators through direct sales domestically and third-party distributors internationally.

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