Company: DGLY
Filing Date: 2025-06-27
Form Type: 424B4
Source: 0001641172-25-016976
Chunk: 41

Company: DIGITAL ALLY, INC.
Filing Date: 2025-06-27
Form: 424B4
Chunk 41
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 forma and pro forma, as adjusted basis:

| ● | up                                                                                                                                  
 to 26 shares of our common stock issuable upon exercise of outstanding options with a weighted average exercise price of $90,280.00 
 per share.                                                                                                                          |
| ● | up to 3,551 shares of our common stock issuable upon                                                                                
 exercise of warrants issued previously and outstanding, having a weighted average exercise price of $2,900.00 per share.            |

| 26 |

<div align='center'>DILUTION</div>

If you invest in the securities being offered by this prospectus, your interest will be diluted immediately as a result of the exercise of the remaining Series A Warrants and Series B Warrants.

Our historical net tangible book value as of March 31, 2025 was $1,237,270, or $21.30 per share of our common stock. Historical net tangible book value per share represents the amount of our total tangible assets, less total liabilities, divided by the number of shares of our common stock outstanding as of March 31, 2025.

After giving effect to (i) the issuance of 1,669,319 common shares upon exercise of Series B Warrants at a zero exercise price which have already been exercised as of the date of this prospectus, (ii) the full exercise of the remaining unexercised Series B Warrants to purchase 37 shares of common stock at a zero exercise price and (iii) the full exercise of the of the Series A Warrants to purchase 347,796 shares of common stock at an exercise price of $62.00 per share, our pro forma as adjusted net tangible book value as of March 31, 2025 would have been approximately $22,800,622 or approximately $10.99 per share. This represents an immediate decrease in net tangible book value of approximately $10.31 per share to our existing stockholders and an immediate dilution of approximately $51.01 per share to purchasers of our securities in this offering, as illustrated by the following table:

| Public offering price per Series A Warrant                                                          |     | $ |  62.00 |   |
| Pro forma net tangible book value (deficit) per share, as of March                                  
 31, 2025, before giving effect to the exercise of the Series A Warrants and Series B Warrants       |     | $ |  21.30 |   |
| Decrease in pro forma net tangible