Social Media Firm DatChat Closes US$12.0 Million IPO
Social media platform DatChat, Inc. (Nasdaq: DATS) closed on Tuesday its initial public offering on the Nasdaq Capital Market. The firm was able to raise approximately US$12.0 million in its debut on the big board.
The offering consisted of 2,891,567 company units at US$4.15 per unit, with each unit containing one common share and one series A warrant to purchase a share. The company’s shares are trading under the symbol “DATS” while the purchase warrants trade under “DATSW”.
EF Hutton, division of Benchmark Investments, acted as the lead bookrunner for the said offering.
The New Jersey-based firm’s main distinction as a communications platform is its value for privacy and control over digital information. Its flagship product, DatChat Messenger, allows users to control the visibility of chat messages even after sending, completely prevents screenshots, and uses blockchain technology to secure the data shared over the messaging app.
DatChat last traded at US$3.86 on the Nasdaq.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.