Datasea intends to use the net proceeds from the offering for research and development, market development and for general corporate purposes. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to mark its global presence. This underlies Datasea's commitment to Intelligent Acoustics and its intent to offer leading edge acoustic solutions to the US market. Forward-looking statements in this press release include, without limitation, the timing for closing of the offering, the satisfaction of customary closing conditions related to the registered direct offering, and the expected use of proceeds from the offering. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook," "objective" and similar terms.

Source: Manila Times July 02, 2024 13:25 UTC