Company: DGLY
Filing Date: 2025-02-19
Form Type: 8-K
Source: 0001493152-25-007233
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Company: DIGITAL ALLY, INC.
Filing Date: 2025-02-19
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

On
February 13, 2025, Digital Ally, Inc., a Nevada corporation (the “ Company”) entered into an underwriting agreement (the “ Underwriting
Agreement”) with Aegis Capital Corp. (the “ Underwriter”) for the sale and issuance of (i) 7,850,000 units (the “ Units)
at a public offering price per Unit of $0.15 with each Unit consisting of one share of common stock, par value $0.001 per share, of the
Company (“ Common Stock”), one Series A warrant (“ Series A Warrant”) to purchase one share of Common Stock at
an exercise price of $0.1875 per share and one Series B warrant to purchase one share of Common Stock at an exercise price of $0.30 (“ Series
B Warrant” and, together with Series A Warrant, the “ Warrants”); and (ii) 92,150,000 pre-funded units (the “ Pre-Funded
Units”) at a public offering price of $0.149 per Pre-Funded Unit, with each Pre-Funded Unit consisting of one pre-funded warrant
(the “ Pre-Funded Warrants”) exercisable for one share of Common Stock at an exercise price of $0.001 per share, one Series
A Warrant and one Series B Warrant. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all
of the Pre-Funded Warrants are exercised in full.

The
Warrants will be exercisable only upon receipt of stockholder approval (the “ Warrant Stockholder Approval”) to approve
each of (i) certain terms in the Warrants and the issuance of the shares of Common Stock issuable upon the exercise of such Warrants,
as may be required by the applicable rules and regulations of The Nasdaq Stock Market LLC and (ii) if necessary, a proposal to amend
the Company’s Articles of Incorporation, as amended, to increase the authorized share capital of the Company to an amount sufficient
to cover the shares of Common Stock issuable upon the exercise of the Warrants. The Series A Warrants will be exercisable commencing
upon the date of public notice of the Warrant Stockholder Approval (the “ Warrant Stockholder Approval Date”) until five years
after the Warrant Stockholder Approval Date, and the Series B Warrants will be exercisable commencing upon