BEIJING, Oct. 21,
2024 /PRNewswire/ -- Datasea Inc. (NASDAQ: DTSS)
("Datasea" or the "Company"), a Nevada-based digital technology company
focused on innovative high-tech acoustics and 5G AI multimodal
digital technology, today announced that, as of October 15, 2024, the Company closed its
Regulation S offering (the "Offering") with three investors,
including its two largest shareholders, the Company's CEO and
Director, pursuant to which the Company sold the investors an
aggregate of 1,932,224 shares of its common stock (the "Shares").
The purchase price for the Shares was $2.06 per share, which was equal to the closing
price of the Company's common stock on The Nasdaq Capital Market on
September 26, 2024, the date on which
the binding subscription agreements had been entered into by the
parties. The investors have agreed to hold the shares for a period
of no less than 180 days.
The investors in the Offering include two members of the
Company's management, who are also major shareholders, reflecting
their strong confidence in the Company's future development. The
funds raised, in the amount of approximately $4.0 million, will primarily be used to support
the Company's future business operations, including investments in
acoustic high-tech related products design upgrade, working capital
for mass production and on-line sales, acquiring intellectual
property and working capital for the promotion and sales of 5G AI
multimodal digital business products.
Ms. Zhixin Liu, CEO of Datasea
stated, "We are pleased to receive support from our major
shareholders, which not only enhances market confidence in our
development but will also help us accelerate the achievement of our
strategic goals."
About Datasea Inc.
Datasea is a leading provider of products, services, and
solutions for enterprise and retail customers in two innovative
industries, acoustic high tech and 5G-AI multimodal digitalization.
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, precision
manufacturing and ultrasonic, infrasound and directional sound
technology in its acoustics business to combat viruses and prevent
human infections, and it is also developing applications in medical
ultrasonic cosmetology. In July 2023,
Datasea established a wholly-owned subsidiary, Datasea Acoustics
LLC, in Delaware, in a strategic
move to enter the U.S. markets and to mark its global expansion
plan. 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. 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 Investor
Relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
View original
content:https://www.prnewswire.com/news-releases/datasea-announces-the-closing-of-a-4-0-million-private-offering-primarily-funded-by-the-companys-ceo-and-director-302281684.html
SOURCE Datasea Inc.
