Company: DGLY
Filing Date: 2025-02-19
Form Type: 8-K
Source: 0001493152-25-007233
Chunk: 1

Company: DIGITAL ALLY, INC.
Filing Date: 2025-02-19
Form: 8-K
Item: Item 1.01
Chunk 1
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 the Warrant Stockholder Approval
Date until two and one-half years after the Warrant Stockholder Approval Date.

The
offering closed on February 14, 2025. The net proceeds to the Company from the offering were approximately $13.48 million, after deducting
underwriter’s fees and the payment of other offering expenses associated with the offering payable by the Company. The Company
intends to use the net proceeds from the offering for working capital and other general corporate purposes, to pay amounts owed under
a short-term merchant advance and to pay in full the aggregate face value of senior secured promissory notes that were previously issued
as part of a private placement that the Company entered into with certain institutional investors on November 6, 2024.

The
Company granted the Underwriter an option to purchase additional shares of common stock and/or Warrants of (i) up to 15.0% of the number
of shares of Common Stock sold in the offering, (ii) up to 15.0% of the number of Series A Warrants sold in the offering and (iii) up
to 15.0% of the number of Series B Warrants sold in the offering. The Underwriter may exercise this option in whole or in part at any
time within forty-five calendar days after the date of the final prospectus relating to the offering. The Underwriter may exercise the
over-allotment option with respect to shares of Common Stock only, Warrants only, or any combination thereof. The purchase price to be
paid per additional share of Common Stock will be equal to the public offering price of one Unit (less $0.00001 allocated to each Warrant),
as applicable, less the underwriting discount, and the purchase price to be paid per over-allotment Warrant will be $0.00001. On February
14, 2025, the Underwriter exercised its over-allotment option with respect to 15,000,000 Series A Warrants and 15,000,000 Series B Warrants.

Aegis
Capital Corp. served as the sole book-running manager in the offering, pursuant to the terms of the Underwriting Agreement, and received
seven percent (7%) of the aggregate purchase price paid by investors in the offering, a one percent (1%) non-accountable expense and
reimbursement of the legal fees of its counsel.

The
Units and Pre-Funded Units were offered by the Company pursuant to an effective registration