BEIJING, Sept. 12,
2023 /PRNewswire/ -- Datasea Inc., (NASDAQ: DTSS)
("Datasea" or the "Company"), a Nevada incorporated digital technology
corporation engaged in converging and innovative business segments
for intelligent acoustics and 5G messaging technology in
China, today announced the pricing
of its underwritten public offering of 5,000,000 shares of common
stock at a public offering price of $0.40 per share, for aggregate gross proceeds of
approximately $2.0 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 750,000 shares of common stock at
the public offering price per share, less the underwriting
discounts to cover over-allotments, if any. The offering is
expected to close on September 13,
2023, subject to satisfaction of customary closing
conditions.
EF Hutton, division of Benchmark Investments, LLC, is acting as
the sole book-running manager for the offering.
Datasea intends to use the net proceeds from the offering for
research and development, market development and for general
corporate purposes.
The common stock is being offered by the Company pursuant to a
"shelf" registration statement on Form S-3 (File No. 333-272889),
which was filed with the U.S. Securities and Exchange Commission
(SEC) and declared effective by the SEC on July 21, 2023, 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, division of Benchmark Investments, 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.
About Datasea Inc.
Datasea Inc., was incorporated in Nevada in 2014 and was listed on the NASDAQ
Capital Market in December 2018 under
the symbol DTSS. Datasea is a leading provider of products,
services, and solutions for enterprise and retail customers in
converging and innovative industries, Intelligent Acoustics and 5G
messaging business, especially focusing on ultrasonic, infrasound
and directional sound technology. 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 and medical ultrasonic
cosmetology. With a diverse product lineup, Datasea is devoted to
enhancing the quality of life using sound-based solutions. In a
strategic move to mark its presence in the global arena, Datasea
established a wholly-owned subsidiary, Datasea Acoustics LLC, in
Delaware, USA, on July 31, 2023. This venture underlines Datasea's
dedication to "Intelligent Acoustics" and marks its ambition to
offer avant-garde antiviral acoustic solutions at ultrasonic
disinfection and sterilization, ultrasonic cosmetology, acoustic
medical care, and acoustic agriculture to the US and international
market to reach a wider consumer audience. Simultaneously, the
establishment of production, assembly, and sales channels, coupled
with the reinforcement of technological enhancements and
collaborations with international technology laboratories, augments
the prospects for the enduring progress of Datasea Acoustics LLC.
For additional information, please visit: www.dataseainc.com.
Datasea routinely posts important information on its website.
Twitter @Dataseainc, https://twitter.com/Dataseainc.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of U.S. federal securities laws. Words such as
"expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue" and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results and, consequently, you
should not rely on these forward-looking statements as predictions
of future events. These forward-looking statements and factors that
may cause such differences include, without limitation, the risks
disclosed in the Company's Annual Report on Form 10-K filed with
the SEC on September 28, 2022, and in
the Company's other filings with the SEC. Readers are cautioned not
to place undue reliance upon any forward-looking statements, which
speak only as of the date made. Except as required by law, the
Company disclaims any obligation to update or publicly announce any
revisions to any of the forward-looking statements contained in
this press release.
Investor and Media Contact:
Datasea Inc. Investor relations
Email: investorrelations@shuhaixinxi.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/datasea-announces-pricing-of-2-0-million-underwritten-public-offering-301924199.html
SOURCE Datasea Inc.