Datasea Raised $8.5M Via Secondary Institutional Equity Offering

China's intelligent security solutions provider Datasea Inc DTSS has priced 2.4 million shares at $3.48 per share to raise $8.48 million in a secondary institutional equity offering.
The investors will also receive 0.45 unregistered warrants to purchase one share.
The two-and-a-half-year warrants have an exercise price of $4.48 per share.
The offering proceeds will serve general corporate and working capital purposes and debt repayment.
Price action: DTSS shares traded lower by 28.3% at $3.16 on the last check Tuesday.