DATSW DatChat Inc

DatChat, Inc. ("DatChat" or the "Company"), a communications software company that gives users the ability to communicate with privacy and protection, today announced the closing of its previously announced 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 unit, for aggregate gross proceeds of approximately $12.0 million, prior to deducting underwriting discounts, commissions, and other offering expenses.

The Company’s Common Stock and warrants began trading on the Nasdaq Capital Market on August 13, 2021, under the symbols “DATS” and “DATSW”, respectively.

EF Hutton, division of Benchmark Investments, LLC, acted as lead book-running manager for the offering. US Tiger Securities, Inc. acted as joint book-running manager. Sheppard, Mullin, Richter & Hampton acted as counsel to the Company and Jolie Kahn, Esq. acted as counsel to the Underwriter in connection with the offering.

A registration statement on Form S-1, as amended (File No. 333-257688) was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on August 12, 2021. A final prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering 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.

About DatChat, Inc.

DatChat Messenger allows users to change how long their messages can be viewed before or after they send them, completely prevent screenshots and hide encrypted messages in plain site on their camera roll. DatChat's patent pending technology offers users a traditional texting experience while providing control and security for their messages. With DatChat Messenger a user can decide how long their messages lasts on the recipients device, while feeling secure that at any time, they can delete a message or entire conversations, making it like the conversation never even happened.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts:

Investor Relations contact:

Alex Thompson, John YiGateway Group, Inc.(949) 574-3860DATS@gatewayir.com

Press contact:

Jordan SchmidtGateway Group, Inc.(949) 386-6332DATS@gatewayir.com