Lenexa, KS, Sept. 26, 2018 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (“Digital Ally” or the “Company”) (Nasdaq:
DGLY), today announced the pricing of an underwritten public offering of 2,400,000 shares of its common stock at a price of $3.05
per share. The Company has also granted to the underwriter a forty-five (45)-day option to acquire an additional 360,000 shares to
cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by
the Company, the Company expects to receive net proceeds of approximately $6.75 million, assuming no exercise of the overallotment
option. The offering is expected to close on September 28, 2018, subject to customary closing conditions.
Roth Capital Partners, LLC is serving as the representative of the underwriters and sole book-running manager,
and Aegis Capital Corp. is serving as a co-manager for the offering.
The Company intends to use the net proceeds from the offering for working capital and other general corporate
purposes.
The shares described above are being offered by Digital Ally pursuant to a shelf registration statement on Form
S-3 (File No. 333-225227) previously filed with and subsequently declared effective by the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or
jurisdiction. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be
obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the
SEC’s website, www.sec.gov.
About Digital Ally
Digital Ally, Inc., headquartered in Lenexa, KS, specializes in the design and manufacturing of video recording
equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement,
emergency management, commercial fleets, and consumer use. Digital Ally’s complete product solutions include in-car and body
cameras, cloud and local management software, and automatic recording technology. These products work seamlessly together and are
simple to install and operate. Digital Ally products are sold by domestic direct sales representatives and international
distributors worldwide.
For additional news and information please visit www.digitalallyinc.com or follow us on Twitter @digitalallyinc and Facebook www.facebook.com/DigitalAllyInc
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. These forward-looking statements are based
largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various
business risks and known and unknown uncertainties, a number of which are beyond the control of the Company’s management.
Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide
variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the
following: the schedule upon which the Company’s litigation against Axon Enterprise, Inc. (“Axon”), Enforcement Video, LLC dba
WatchGuard Video (“WatchGuard”) and Utility Associates, Inc. (“Utility”) will proceed; whether the Company will prevail in its
patent litigation against Axon, WatchGuard and Utility; the amount of any damages that might be awarded to the Company if it is
successful in the litigation proceedings; whether the funding received from Brickell Key Investments LP will be sufficient to fully
cover the litigation expenses against Axon, WatchGuard and Utility; competition from larger, more established companies with far
greater economic and human resources; the Company’s ability to attract and retain customers and quality employees; and the effect
of changing economic conditions. These cautionary statements should not be construed as exhaustive or as any admission as to the
adequacy of the Company’s disclosures. It cannot predict or determine after the fact what factors would cause actual results to
differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements
that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other
expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not
undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise.
Additional information respecting factors that could materially affect the Company and its operations are contained in its Annual
Report on Form 10-K for the year ended December 31, 2017 and Quarterly Reports on Form 10-Q for the three and six months ended
March 31, 2018 and June 30, 2018, respectively, as filed with the SEC on EDGAR.
Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774 info@digitalallyinc.com
