Digital Ally Inc. said two investors have pledged to purchase about $12 million of the company’s common stock along with warrants to purchase additional shares.
The Lenexa-based company did not identify the investors. The transaction is expected to be completed by Wednesday.
Proceeds from the sale will be used to retire $2.5 million in notes and for general corporate purposes.
Digital Ally develops, manufactures and sells digital video surveillance products for law enforcement, security clients and others.