Datasea announces $4M private placement

Datasea announced the signing of a securities purchase agreement with an investor from China for an investment totaling $4M. The shares were priced at $1.35 each, representing a substantial 125% premium over the current share price. Financing Details: The initial payment of $714,285.71 due within 5 business days from the agreement’s effective date has been received by the company. A subsequent payment of $3,285,714.29 is due on or before October 15. All securities purchased through this agreement will remain restricted for six months. The capital raised is earmarked for Datasea’s strategic expansion into the U.S. market, along with other corporate endeavors.