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.
Ms. 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."
Financing Details:
- The 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.
About 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 Local Taxation Bureau) and one of the
Zhongguancun High Tech Enterprises (issued by the Zhongguancun
Science Park Administrative Committee) in recognition of the
Company's achievement in high technology products. For additional
information, please visit: www.dataseainc.com. Datasea
routinely posts important information on its website. Twitter
@Dataseainc, https://twitter.com/Dataseainc.
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. 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 U.S. Securities and Exchange Commission, 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
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SOURCE Datasea Inc.