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Why Is Datasea (DTSS) Stock Climbing Before the Market Opens?

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In pre-market trading hours on Wednesday, shares of the technology company engaged in providing smart security solutions, smart hardware and education-related technologies in China, Datasea Inc. (DTSS) rose 1.82% to $2.79. Last session, Datasea stock fell -37.87% and closed at $2.74. The price range of DTSS stock was $2.69 to $3.799.

A daily average of 2.08 million shares over the past 100 days was surpassed by 5.12 million shares traded in DTSS. In the last five days, DTSS shares have shed -6.48%, while in the last month they have risen 10.93%.  Following an announcement of a registered direct offering, the DTSS stock is recovering after losing value in the last session.

DTSS signed an agreement with whom?

A technology company in China, Datasea offers smart hardware and security solutions. DTSS also develops education-related technologies. To meet the needs of its clients, DTSS uses its proprietary technologies, innovative products, market intelligence, and intellectual property, to deliver comprehensive and optimized security and education solutions.

The Beijing Science and Technology Commission, Beijing State Taxation Bureau, Beijing Finance Bureau, and Beijing Local Taxation Bureau have jointly certified the DTSS as one of the High Tech Enterprises. DTSS has also been certified as Zhongguancun High Tech Enterprises by the Zhongguancun Science Park Administrative Committee, recognizing the company’s achievement in high technology products.

In an announcement yesterday, Datasea disclosed that it has signed definitive agreements with certain institution investors for the offering of registered direct securities.

  • The agreement was signed by DTSS for gross proceeds of $8,480,425.92, before commissions and expenses.
  • Assuming all customary closing conditions are met, DTSS anticipates the offering will close on or about July 22, 2021.
  • A registered offering will be conducted by DTSS in which 2,436,904 shares of common stock will be offered at a purchase price of $3.48 per share.
  • DTSS will also offer investors 0.45 unregistered warrants per share of common stock purchased in a private placement.
  • Exercise of the warrants will begin on the date of issuance, expire two and one-half years after issuance, and have an exercise price of $4.48 per DTSS share.
  • In addition to repaying debt, DTSS plans to use the net proceeds for general corporate purposes and working capital.
  • DTSS’ offerings were placed exclusively through FT Global Capital, Inc as its agent.

Other recent development:

Datasea announced last week that it had signed six distribution and purchase agreements through its wholly-owned subsidiary Shuhai Zhangxun Information Technology Co., Ltd. Through these agreements, 5G Message-Marketing Cloud Platform (“5G MMCP”) Version 3.0 will be provided, and by adding new district partners, product accessibility in China will be boosted nationwide.

The six companies that have expressed an interest in 5G Messaging will pay DTSS-subsidiary a combined RMB 886,000 (roughly USD 136,940) for providing their products and services. Datasea (DTSS) subsidiary, Shuhai Zhangxun has already been given RMB 490,400 (about USD 75,776).

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