Datasea Prices 5M Shares at $0.40/Share in an Underwritten Public Offering
Portfolio Pulse from Benzinga Newsdesk
Datasea Inc. (NASDAQ:DTSS) has priced its underwritten public offering of 5 million shares at $0.40 per share, aiming to raise approximately $2.0 million. The company has also granted underwriters a 45-day option to purchase up to an additional 750,000 shares. The offering is expected to close on September 13, 2023. The proceeds will be used for research and development, market development, and general corporate purposes.
September 12, 2023 | 12:47 pm
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Datasea's public offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price. However, the funds raised will be used for R&D and market development, which could enhance the company's long-term prospects.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. However, the funds raised will be used for R&D and market development, which could enhance the company's long-term prospects.
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