Digital Ally, Inc. (NASDAQ:DGLY) (the “Company“), a market leader for advanced video solutions, revenue cycle management, and live event production and ticketing, today announced a 1-for-20 reverse split (the “Reverse Stock Split”) of the Company’s common stock (the “Common Stock”). On February 6, 2023, the Company filed a certificate of amendment to the Company’s articles of incorporation, as amended, with the Secretary of State of the State of Nevada to effect the Reverse Stock Split. The Company anticipates that the Common Stock will begin trading on the Nasdaq Capital Market (“Nasdaq”) on a split-adjusted basis at the start of trading on February 8, 2023 and will have a new CUSIP number of 25382T200.
At the Company’s annual meeting of stockholders (the “Annual Meeting”) held on December 7, 2022, the Company’s stockholders approved a proposal to amend the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its common stock at a ratio within the range of one-for-five (1:5) to one-for-twenty (1:20), as determined by the Company’s Board of Directors. On January 13, 2023, the Company’s Board of Directors approved the one-for-twenty Reverse Stock Split.
