Core Viewpoint - Datasea Inc. has successfully closed a Regulation S offering, raising approximately 2.06 per share, with significant participation from major shareholders, including the CEO, indicating strong confidence in the company's future [1][2]. Group 1: Offering Details - The Regulation S offering was closed on October 15, 2024, with the shares sold at a price equal to the closing price on September 26, 2024 [1]. - The investors are required to hold the shares for a minimum of 180 days [1]. Group 2: Use of Proceeds - The funds raised will be allocated to support business operations, including upgrades in acoustic high-tech product design, working capital for mass production and online sales, acquiring intellectual property, and promoting 5G AI multimodal digital business products [2]. Group 3: Company Overview - Datasea Inc. specializes in acoustic high-tech and 5G-AI multimodal digitalization, leveraging advanced R&D technology as the backbone for its products [3]. - The company has established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware to facilitate its entry into the U.S. market as part of its global expansion strategy [3].
Datasea Announces the Closing of a $4.0 Million Private Offering, Primarily Funded by the Company's CEO and Director