Brief: Digital Ally Announces Intention To Separate Into Two Focused Independent Publicly Traded Companies

Kustom Entertainment

08/12/2022 13:32

Dec 8 (Reuters) - Digital Ally Inc  DGLY.O :
    * DIGITAL ALLY, INC. ANNOUNCES INTENTION TO SEPARATE INTO
TWO
FOCUSED, INDEPENDENT PUBLICLY TRADED COMPANIES TO UNLOCK VALUE
TO STOCKHOLDERS
    * DIGITAL ALLY INC - TICKETING AND ENTERTAINMENT BUSINESS TO
BECOME SEPARATE PUBLICLY TRADED COMPANY
    * DIGITAL ALLY INC - SPIN-OFF CREATES TWO PUBLIC COMPANIES
    * DIGITAL ALLY INC - DIGITAL ALLY VIDEO SOLUTIONS AND
MEDICAL
BILLING BUSINESSES TO RETAIN DIGITAL ALLY, INC. NAME
    * DIGITAL ALLY INC - SEPARATION EXPECTED TO BE COMPLETED
DURING
FIRST HALF OF 2023
    * DIGITAL ALLY INC - COMPANY WILL MAINTAIN ITS CURRENT
CAPITAL
DEPLOYMENT POLICIES UNTIL SEPARATION IS COMPLETED
    * DIGITAL ALLY - SEPARATION IS EXPECTED TO OCCUR THROUGH
TAX-FREE
DISTRIBUTION OF KUSTOM ENTERTAINMENT INC SHARES TO DIGITAL ALLY
INC'S STOCKHOLDERS
    * DIGITAL ALLY INC - DIGITAL ALLY INC WILL NOW BE LED BY
BRODY J.
GREEN, WHO WILL SERVE AS PRESIDENT EFFECTIVE JAN 1, 2023, AND
CEO AT DATE OF SPIN-OFF

Source text for Eikon:  ID:nGNX36sDFn 
Further company coverage:  DGLY.O