Company: DGLY
Filing Date: 2025-01-16
Form Type: S-1/A
Source: 0001493152-25-002490
Chunk: 7

Company: DIGITAL ALLY, INC.
Filing Date: 2025-01-16
Form: S-1/A
Chunk 7
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 the Notes. In connection therewith, on November 13, 2024, the Company
entered into that certain Secured Subsidiary Guarantee (the “Guarantee”), by and among the Company, TicketSmarter, Kustom
440, and Kustom (each of TicketSmarter, Kustom 440 and Kustom a “Guarantor” and together, the “Guarantors”).
Pursuant to the Guarantee, the Guarantors guarantee to the Selling Stockholders the prompt and complete payment and performance when
due of the Obligations (as defined in the Guarantee).

As previously reported on the Form 8-K filed on
November 7, 2024, pursuant to the Purchase Agreement, the Company agreed to file within 30 days of the Closing Date (as defined in the
Purchase Agreement) a registration statement (the “Public Offering Registration Statement”) with the SEC for a public offering
(the “Public Offering Filing Deadline”) and use its reasonable best efforts to pursue and consummate a financing transaction
within ninety (90) days of the Closing Date (the “Offering Consummation Deadline”). The Company also agreed to file within
30 days of the Closing Date a registration statement on Form S-1 (or other appropriate form if the Company is not then S-1 eligible)
providing for the resale by the Selling Stockholders of the Shares issued under the Purchase Agreement (the “Resale Filing Deadline”).

On December 11, 2024, the Company entered into
that certain First Amendment to Securities Purchase Agreement (the “Amendment”) with the Selling Stockholders. Pursuant to
the Amendment, (i) the Public Offering Filing Deadline was amended to require the Company to file the Public Offering Registration Statement
not less than 20 Trading Days (as defined in the Purchase Agreement) after, and not more than 30 Trading Days after, the later of (a)
the annual meeting of stockholders scheduled for December 16, 2024 and (b) the effectiveness of the registration statement described
in Section 4.15 of the Purchase Agreement (the “Resale Registration Statement”), (ii) the Offering Consummation Deadline
was amended to require the Company to use its reasonable best efforts to consummate a financing transaction within sixty (60) days of
filing the Public Offering Registration Statement, and (iii) the Resale Filing Deadline was amended to require the Company to use reasonable
best efforts to