Digital Ally withdraws planned equity offering, shares rally

Kustom Entertainment

15/02/2023 12:13

** Digital Ally Inc's  DGLY.O  shares up 14.8% at $4.65
premarket after security camera maker scraps equity offering
plans
    ** DGLY shares have fallen past 6 sessions, shedding 44%
    ** Co late Tues requested SEC to withdraw registration
statement as it no longer seeks to conduct a public offering of
its securities at this time (See prior stock-and-warrants
filing)
    ** Last week, co effected 1-for-20 reverse stock split
    ** In Dec, its board approved plan to separate co into two
independent, publicly traded entities during H1 2023
    ** Ticketing and entertainment business to become Kustom
Entertainment Inc, while video solutions/medical billing
businesses to keep Digital Ally name
    ** Shares have lost 81% over the past 12 months through Tues
close
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))