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.
Sign Up and Save
Get six months of free digital access to The Kansas City Star