BEIJING, July 2, 2024
/PRNewswire/ -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the
"Company"), a Nevada corporation
engaged in innovative businesses in high-tech intelligent acoustics
and 5G-Artificial Intelligence ("AI") multimodal communication
technology in the United States
and China, today announced that it
entered into a share purchase agreement with a certain
institutional investor to purchase 692,308 shares of its common
stock (or common stock equivalents in lieu thereof) at an offering
price of $3.25 per share of common
stock (or common stock equivalents in lieu thereof) in a registered
direct offering. The offering is expected to close on or about
July 3, 2024, subject to satisfaction
of customary closing conditions.
Datasea intends to use the net proceeds from the offering for
research and development, market development and for general
corporate purposes.
EF Hutton LLC is acting as the exclusive placement agent for the
offering.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form S-3 (File No.
333-272889), which was declared effective by the Securities and
Exchange Commission ("SEC") on July 21,
2023, and the accompanying prospectus contained therein.
A final prospectus supplement containing additional
information relating to the offering will be 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 LLC
Attention: Syndicate Department, 590 Madison Avenue, 39th Floor,
New York, NY 10022, by email at
syndicate@efhutton.com, or by telephone at (212) 404-7002.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the
offering, 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. is a leading provider of products, services, and
solutions for enterprise and retail customers in innovative
industries, Intelligent Acoustics and 5G multimodal communication,
especially focusing on ultrasonic, infrasound and directional sound
technology. The Company's advanced R&D technology serves as the
core infrastructure and backbone for its products. Its 5G
multimodal communication segment operates on a cloud platform based
on AI. Datasea leverages cutting-edge technologies in intelligent
acoustics, utilizing ultrasonic sterilization to combat viruses and
prevent human infections, and is also developing innovations in
directional sound and medical ultrasonic cosmetology. In
July 2023, Datasea established a
wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to mark its
global presence. This underlies Datasea's commitment to Intelligent
Acoustics and its intent to offer leading edge acoustic solutions
to the US market. For additional information, please visit:
www.dataseainc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements in this press release include,
without limitation, the timing for closing of the offering, the
satisfaction of customary closing conditions related to the
registered direct offering, and the expected use of proceeds from
the offering. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook," "objective" and similar terms. Such
statements are based upon management's current expectations and
current market and operating conditions, and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and which are beyond
Datasea's control, which may cause Datasea's actual results,
performance or achievements (including the RMB/USD value of
its anticipated benefit to Datasea as described herein) to differ
materially and in an adverse manner from anticipated results
contained or implied in the forward-looking statements. Further
information regarding these and other risks, uncertainties or
factors is included in Datasea's filings with the SEC, which are
available at www.sec.gov. Datasea does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
law.
Investor and Media Contact:
Datasea Inc. Investor relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
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SOURCE Datasea Inc.