Damon Inc. Announces Pricing of Upsized $16.5 Million Underwritten Public Offering
Summary
VANCOUVER, BC, March 20, 2025 /PRNewswire/ - Damon Inc. (NASDAQ: DMN) ("Damon" or the "Company"), a designer and developer of electric motorcycles and other personal mobility products that seek to empower the personal mobility sector through innovation, data intelligence and strategic partnerships, today announced the pricing of its public offering of 126,900,000 units at a public offering price of $0.13 per unit. Each Series A Warrant will expire two and one-half (2.5) years from the issuance, will be immediately exercisable upon issuance at an initial exercise price of $0.195 per common share, subject to adjustment on the First Reset Date and the Second Reset Date (as defined in the warrants) and subject to a floor price therein. We intend to use the net proceeds from this offering for working capital and general corporate purposes, including research and development, as well as marketing and sales of our products. The company distinguishes itself through its integrated ecosystem approach, combining advanced data analytics, engineering expertise, and strategic partnerships with OEMs and Tier 1 suppliers. Damon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required pursuant to applicable securities law.