Digital Ally, Inc. announced that it has entered into a Securities Purchase Agreement with certain institutional investors to issue an aggregate of 1,195,219 units and pre-funded units at a purchase price of $2.51 per unit for the gross proceeds of $2,999,999.69 on June 24, 2024. Each unit consists of one share of common stock, par value $0.001 per share, of the company, one Series A warrant to purchase one share of common stock and one Series B warrant to purchase such number of shares of common stock. The Pre-Funded Warrants are immediately exercisable at an exercise price of $0.0001 per share of Common Stock and will not expire until exercised in full.

The Series A Warrants will be exercisable at any time or times on or after the date Stockholder Approval is obtained, have an initial exercise price of $2.51 per share of Common Stock and a term of 5 years.