Datasea Inc. (NASDAQ: DTSS) Empowers Its Future with $2 Million Public Offering Success

Datasea Inc. (Nasdaq: DTSS), a leading digital technology corporation with a focus on intelligent acoustics and 5G messaging technology in China, has recently achieved a remarkable milestone. The company, trading under the symbol DTSS on the NASDAQ, proudly announced the successful completion of its underwritten public offering, which generated substantial financial support.

To delve deeper into the insights and perspectives Wall Street has on Datasea Inc. (Nasdaq: DTSS) and its recent news, please click here: https://investorconsensus.com/stock-ticker?symbol=DTSS

Closing the Offering

On September 13, 2023, Datasea Inc. officially closed its underwritten public offering of 5,000,000 shares of common stock. These shares were made available to the public at a price of $0.40 per share, resulting in total gross proceeds of approximately $2.0 million. It's important to note that these figures are before the deduction of underwriting discounts and other offering-related expenses. Furthermore, Datasea Inc. has granted the underwriters a 45-day option to purchase up to an additional 750,000 shares of common stock at the same offering price, minus underwriting discounts, which would cover over-allotments, if any.

Key Players in the Offering

EF Hutton, a division of Benchmark Investments, LLC, played a pivotal role as the sole book-running manager for this offering. Their expertise and support were instrumental in ensuring the success of this financial endeavor.

Regulatory Compliance and Filing

The common stock offered in this public offering was done so in accordance with a "shelf" registration statement on Form S-3 (File No. 333-272889). This registration statement had been filed with the U.S. Securities and Exchange Commission (SEC) and had received approval from the SEC on July 21, 2023, along with its accompanying prospectus.

Founded in 2014 and subsequently listed on the NASDAQ Capital Market in December 2018 under the symbol DTSS, Datasea Inc. has established itself as a pioneering provider of products, services, and solutions in converging and innovative industries. The company specializes in Intelligent Acoustics and 5G messaging, with a strong emphasis on ultrasonic, infrasound, and directional sound technology.

Datasea Inc. leverages cutting-edge technologies, particularly ultrasonic sterilization, to combat viruses and prevent infections. The company also explores innovations in directional sound and medical ultrasonic cosmetology, offering a diverse product lineup dedicated to enhancing quality of life through sound-based solutions.

In a strategic move to expand its global presence, Datasea Inc. recently established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, USA, on July 31, 2023. This development underscores Datasea's commitment to "Intelligent Acoustics" and its aspiration to provide advanced antiviral acoustic solutions, including ultrasonic disinfection and sterilization, ultrasonic cosmetology, acoustic medical care, and acoustic agriculture, to the US and international markets. The establishment of production, assembly, and sales channels, along with ongoing technological enhancements and collaborations with international technology laboratories, further bolster the prospects for Datasea Acoustics LLC's sustained growth.

This milestone represents a significant step forward for Datasea Inc. as it continues to innovate and contribute to technological advancements in the digital technology sector.

To delve deeper into the insights and perspectives Wall Street has on Datasea Inc. (Nasdaq: DTSS) and its recent news, please click here: https://investorconsensus.com/stock-ticker?symbol=DTSS