DatChat, Inc. (“DatChat” or the “Company”), a communication software company that gives users the ability to communicate with privacy and protection, announced the pricing of its initial public offering of 2,891,567 units consisting of common stock (the “Common Stock”) and series A warrants (the “Warrants”) to purchase up to 2,891,567 shares of Common Stock at a public offering price of $4.15 per share and accompanying warrant, for aggregate gross proceeds of approximately $12.0 million, prior to deducting underwriting discounts, commissions, and other offering expenses and excluding any exercise of the underwriters’ option to purchase any additional securities as described herein. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 433,734 shares and/or warrants to purchase up to 433,734 shares of Common Stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about August 17, 2021, subject to satisfaction of customary closing conditions.

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The Company has received approval to list its Common Stock and warrants on the Nasdaq Capital Market, with its Common Stock trading under the symbol “DATS” and the warrants trading under the symbol “DATSW”, with trading expected to begin on August 13, 2021. Each warrant is exercisable for one share of common stock at an exercise price of $4.98 per share and will expire five years from the date of issuance.

EF Hutton, division of Benchmark Investments, LLC, is acting as lead book-running manager for the offering. Tiger Securities is acting as joint book-running manager.

The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-1, as amended (File No. 333-257688), on August 12, 2021. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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