Business
Datasea Announces $4 Million Private Placement Priced at a 125% Premium to Market at $1.35 Per Share
BEIJING, Aug. 17, 2023 /PRNewswire/ -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"), a digital technology corporation engaged in three converging
About this update from Datasea Intelligent Technology Ltd.
[{"type":"text","content":"BEIJING, Aug. 17, 2023 /PRNewswire/ -- Datasea Inc., (NASDAQ: DTSS) (\"Datasea\" or the \"Company\"), a digital technology corporation engaged in three converging and innovative business segments in China: intelligent acoustics, 5G messaging, and smart city technology, announced the signing of a securities purchase agreement with an investor from China for an investment totaling $4 million. The shares were priced at $1.35 each, representing a substantial 125% premium over the current share price.\n\n \n \n \n \n \n \n\n \nMs. Zhixin Liu, CEO of Datasea, expressed, \"Securing this significant investment at a premium is a testament to our proven track record and the bright future ahead for Datasea. We are invigorated by the trust our investors have placed in us, and it further galvanizes our commitment to innovate and grow.\"\nFinancing Details:\nThe initial payment of $714,285.71 due within 5 business days from the agreement's effective date has been received by the Company.A subsequent payment of $3,285,714.29 is due on or before October 15, 2023.All securities purchased through this agreement will remain restricted for six months (180 days), emphasizing our commitment to long-term growth and shareholder value. The capital raised is earmarked for Datasea's strategic expansion into the US market, along with other corporate endeavors.\nAbout Datasea Inc.Datasea Inc., through its variable interest entity, Shuhai Information Technology Co., Ltd., a digital technology company in China, engages in three converging and innovative industries: intelligent accoutics, 5G messaging and smart city. Datasea leverages cutting-edge technologies in the realm of intelligent acoustics, especially harnessing the power of ultrasonic sterilization to combat viruses and prevent human infections. Alongside this, the company delves into innovations in directional sound. With a diverse product lineup, Datasea is devoted to enhancing the quality of life using sound-based solutions. Concurrently, as a preeminent solution provider, Datasea's 5G messaging application serves a broad spectrum of industries, regions, and small to micro enterprises throughout China. Datasea has been certified as one of the High-Tech Enterprises (jointly issued by the Beijing Science and Technology Commission, Beijing Finance Bureau, Beijing State Taxation Bureau and Beijing Loca...