Datasea Inc. announced that it has entered into two subscription agreements with an investor to issue a total of 4,760,000 shares of common stock at a per-share purchase price of $1.2 for the gross proceeds of $5,712,000 on September 7, 2023. These Shares are subject to a mandatory holding period of 365 days. The first payment of $2,856,000 was originally due by September 10, 2023, and was delayed due to adjustments in the Investor?s internal funding plan.

The investor has provided a firm commitment to the company that this $2,856,000 will now be paid no later than September 30, 2023.