U.S. communication software company DatChat, Inc. is planning to raise $12 million in its initial public offering.
Under the deal, DatChat has offered 2.8 million units consisting of common stock and Series A warrants to purchase shares of common stock at a public offering price of $4.15 per share and accompanying warrant.
In addition, the company has granted the underwriters a 45-day option to buy a further 433,734 shares and/or warrants to acquire shares of common stock at the public offering price less the underwriting discounts and commissions.
Subject to satisfaction of customary closing conditions, the transaction is anticipated to be completed on or about August 17, 2021.