DarkIris Inc (DKI) News & EventsDKIDarkIris Inc

DarkIris Inc Trading Halted, News Pending

DarkIris Inc trading halted, news pending

DarkIris Prices $6M Public Offering

DarkIris announced that it has priced a best-efforts public offering with gross proceeds to the company expected to be approximately $6M, before deducting placement agent fees and other estimated expenses payable by the company, excluding the exercise of any warrant offered. The offering is comprised of 4,166,666 units, each consisting of (i) one Class A ordinary share of the company and (ii) one warrant to purchase one Class A Ordinary Share or otherwise receive a greater number of Class A Ordinary Shares pursuant to the zero exercise price option described below. The public offering price per Unit is $1.44, or in lieu of Units, 4,166,666 pre-funded units, each consisting of (i) one pre-funded warrant to purchase one Class A Ordinary Share, and (ii) one Warrant. The public offering price per Pre-funded Unit is $1.4399, which is equal to the public offering price per Unit to be sold in the offering, minus the $0.0001 exercise price per Pre-Funded Warrant. Each of the Warrants will have an exercise price of $2.04 per Class A Ordinary Share and will be immediately exercisable upon issuance and expire six months after the issuance date. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each Pre-Funded Unit sold in the offering, the number of Units in the offering will be decreased on a one-for-one basis. The Warrants may also be exercised on a zero cash exercise option, pursuant to which the holder may exchange each warrant for approximately 12 Class A ordinary shares that are issuable on a cash exercise of the Warrants. The offering is expected to close on or about October 9. Prime Number Capital is acting as the sole placement agent for the offering.

DarkIris Updates on AI Video Platform Progress

DarkIris provided a business update highlighting recent progress in the development and global deployment of its AI video production platform, Cine3.AI, as well as the Company's North American expansion and interactive entertainment initiatives. Zhifang Hong, Chief Executive Officer and Chairman of DarkIris, commented: "As we continue to build the technology foundation for 'Cinema 3.0' era, DarkIris is entering a new stage of development. By combining the core capabilities of Cine3.AI with localized production and commercial capabilities in North America, supported by our talent strategy across Singapore and the United States, we believe we are well positioned to pursue emerging opportunities across media and digital entertainment."