DatChat prices 972,972 shares at $1.85 in underwritten public offering

DatChat announced the pricing of its underwritten public offering of 972,972 shares of its common stock at a public offering price of $1.85 per share, for aggregate gross proceeds of approximately $1.8 million, prior to deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 145,945 shares of common stock at the public offering price per share, less the underwriting discounts to cover over-allotments, if any. The offering is expected to close on January 19, 2024, subject to satisfaction of customary closing conditions. EF Hutton LLC is acting as the sole book-runner for the offering.