#Canada #Vancouver #Damon Inc. #electric motorcycles #Public Offering

Damon Inc. Moves Forward with $16.5 Million Public Offering

Damon Inc., a prominent developer of electric motorcycles and personal mobility solutions, has recently declared the pricing of an upsized public offering that aims to further bolster its innovative endeavors. The offering, which amounts to $16.5 million, involves 126,900,000 units priced at $0.13 per unit. Each of these units comprises one common share and a Series A warrant to purchase one additional common share.

In addition to this offering, Damon Inc. has also offered underwriters a 45-day option to acquire an extra 19,035,000 shares and Series A warrants to offset over-allotments, maintaining the same public offering price less any underwriting discount. The gross proceeds are expected to significantly enhance the company’s operational depth, with the funds mainly funneled into working capital and corporate purposes, including essential areas such as research and development and marketing.

Strategic Developments

Damon Inc. is focused on its commitment to pioneering advancements in the personal mobility sector. The company is set to close the offering on March 21, 2025, pending the fulfillment of traditional closing conditions. As a part of this initiative, Maxim Group LLC has been appointed as the sole book-runner overseeing this offering, providing Damon with substantial assistance throughout the process.

The anticipated gross proceeds will not only support existing operations but will also serve as a springboard for Damon’s ambitious growth strategies in the ever-evolving market of personal mobility products.

Growth Towards a Sustainable Future

The company’s vision extends beyond mere product development; it envisions becoming a robust player within the $40 billion global electric two-wheeler market by 2030. Damon's unique position arises from an integrated ecosystem that combines advanced data analytics, engineering skills, and strategic partnerships with both OEMs and Tier 1 suppliers. This synergistic approach empowers Damon to focus on accessible and innovative mobility solutions, utilizing its AI-driven safety systems to enhance user experience.

Additionally, the company has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to initiate the offering and ensure compliance with regulatory demands. This strategic move aligns with the company's goal of fostering investor confidence while simultaneously pushing forward the frontiers of sustainable transportation.

Final Notes

As Damon Inc. gears up for this offering, it's crucial to note that these endeavors are accompanied by typical risks and uncertainties related to the market, competitive landscape, and regulatory environment. Factors range from the company’s ability to satisfy closing conditions, industry competition, to the evolving technological landscape that may impact Damon’s operational efficiency.

Overall, the company’s focus remains laser-sharp on advancing the personal mobility industry while ensuring that innovations in safety, performance, and sustainability remain at the core of its product offerings. To learn more about Damon’s transformative approach to mobility, their developments will be tracked closely as they unfold against the backdrop of a changing transportation landscape.

For those interested in their progress, electronic copies of the prospectus will be available once filed, detailing all necessary information regarding this public offering. Damon Inc. continues to position itself as an influential entity in reimagining personal mobility, striving for a future that not only embraces advancements in technology but also champions sustainable practices across the board.