Datasea Inc. Concludes Successful Registered Direct Offering

Datasea Inc., a technology company traded on NASDAQ as DTSS, recently concluded a registered direct offering with an institutional investor. This offering involved selling 692,308 shares of common stock at $3.25 per share, with the proceeds earmarked for research and development, market expansion, and general corporate purposes.

The exclusive placement agent for this transaction was EF Hutton LLC. The securities were offered under a shelf registration statement on Form S-3, which was approved by the SEC in July 2023. A detailed prospectus supplement was also submitted to the SEC.

Specializing in cutting-edge intelligent acoustics and 5G-Artificial Intelligence multimodal communication technology, Datasea Inc. focuses on ultrasonic, infrasound, and directional sound technology. These innovations find applications in diverse fields like ultrasonic sterilization, directional sound, and medical ultrasonic cosmetology.

In a strategic move in 2023, Datasea established a subsidiary, Datasea Acoustics LLC, in Delaware to enhance its presence in the US market. The company's goal is to offer state-of-the-art acoustic solutions to clients across various industries.

The press release includes forward-looking statements outlining the anticipated utilization of the offering proceeds. Datasea advises investors that actual outcomes may vary due to external factors beyond the company's influence.

For more insights into Datasea Inc. and its groundbreaking technologies, please visit their official website at www.dataseainc.com.

Datasea Inc.'s successful completion of the registered direct offering signifies a significant step towards advancing its innovative technologies. With a focus on research and development, market expansion, and strategic partnerships, Datasea is poised to continue making waves in the tech industry.