Digital Ally Announces Closing of Approximately $2.9 Million Private Placement

Lenexa, Kansas, June 25, 2024 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), a leading provider of video solutions which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced the closing of a private placement with certain institutional investors. The aggregate gross cash proceeds were approximately $2.9 million, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company intends to use the net proceeds from the private placement for inventory purchases, artist costs for upcoming festivals, transaction cost, expanded sales, marketing and general working capital.