Welcome to our dedicated page for Damon news (Ticker: DMN), a resource for investors and traders seeking the latest updates and insights on Damon stock.
Damon Inc (DMN) is redefining motorcycling through cutting-edge electric motorcycles that combine high-performance engineering with advanced safety systems and smart connectivity. This news hub provides investors and industry observers with timely updates on the company's strategic developments and market position.
Access comprehensive coverage of Damon's earnings reports, product innovations, and regulatory compliance milestones. Track announcements about HyperDrive™ powertrain advancements, CoPilot™ safety technology deployments, and partnerships shaping the future of sustainable mobility.
Our curated news collection serves as an essential resource for monitoring Damon's progress in capitalizing on zero-emission mandates and expanding its global footprint. Bookmark this page for direct access to verified press releases and objective analysis of DMN's evolving role in transforming personal transportation.
Damon Inc. (OTC PINK: DMNIF), a company focused on electric motorcycles and personal mobility innovation, announced its stock symbol change from "DMN" to "DMNIF" on the OTC Pink Current market, effective May 20, 2025. The OTC Pink Current market will be rebranded as OTCID Market starting July 1, 2025. The announcement follows recent company developments, including the release of FY25 Q3 results and operational updates that highlight Damon's progress in sustainable mobility and data-driven solutions.
Damon Inc. (Nasdaq: DMN) has announced its decision to forgo appealing Nasdaq's delisting determination. The company's shares will resume trading on Nasdaq for one day on May 19, 2025, before being suspended. Starting May 20, 2025, Damon's common shares will transition to trading on the OTC Pink Current Market, which will become the OTCID Basic Market on July 1, 2025. As an SEC reporting company, Damon meets the minimal current information requirements for OTCID Basic Market. The company plans to pursue listing on the OTCQB Venture Market, though success is not guaranteed.
Damon Inc. (NASDAQ: DMN), an electric motorcycle and personal mobility products developer, has announced its participation in the Planet Microcap Showcase: Vegas event in partnership with MicroCapClub. The company's management will deliver a presentation on Wednesday, April 23, 2025, at 3:00 PM PT. In addition to the webcast presentation, management will be available for one-on-one investor meetings during the conference. Interested parties can schedule meetings through their conference representative or by contacting James@HaydenIR.com.
Damon Inc. (NASDAQ: DMN) has announced a strategic collaboration with Italian engineering firm Engines Engineering to accelerate the development of its HyperSport Race electric motorcycle. The partnership aims to validate Damon's proprietary electric powertrain technology and AI-enabled systems in a high-performance track application.
The development costs are expected to be under $10 million, significantly lower than the typical $25-70 million required for road-going versions. The company anticipates delivering initial products within 12 months.
This collaboration is part of Damon 2.0, the company's updated strategic business plan, which establishes four revenue verticals: Data Intelligence, Personal Mobility, Licensing and Engineering Services, and Special Projects.
Damon Inc. (NASDAQ: DMN) has successfully closed its upsized public offering, raising $16.5 million in gross proceeds through the sale of 126.9 million units at $0.13 per unit. Each unit includes one common share and one Series A warrant to purchase one common share.
The underwriter, Maxim Group , partially exercised its overallotment option, purchasing an additional 19,035,000 Series A warrants at $0.001 per warrant, generating additional gross proceeds of $19,035.
The company plans to use the proceeds to support its next growth phase, focusing on accelerating revenue generation through proprietary technologies, data intelligence, user-driven design, and strategic partnerships. CEO Dom Kwong emphasized that this financing strengthens their balance sheet and enables the execution of their multi-vertical revenue strategy, including safety systems and electrification technology development.
Damon Inc. (NASDAQ: DMN) has announced the pricing of an upsized $16.5 million public offering, consisting of 126,900,000 units priced at $0.13 per unit. Each unit includes one common share and one Series A warrant.
The Series A warrants will be valid for 2.5 years with an initial exercise price of $0.195 per common share, subject to adjustments. Warrant holders can alternatively exercise on a cashless basis, exchanging each warrant for 2.5 ordinary shares.
The company has granted underwriters a 45-day option to purchase up to an additional 19,035,000 ordinary shares and warrants. The offering is expected to close on March 21, 2025. Maxim Group is serving as the sole book-runner. Proceeds will support working capital, general corporate purposes, R&D, and marketing and sales initiatives.
Damon (NASDAQ: DMN) reported its FY25 Q2 results, highlighting significant strategic changes and financial improvements. The company achieved net income of $32.5 million ($2.51 per diluted share), compared to a net loss of $7.1 million in the previous year. The company launched its Damon 2.0 strategy, establishing four core revenue verticals: Data Intelligence, Personal Mobility, Licensing and Engineering Services, and Special Projects.
Key financial metrics include total cash of $789k (up from $396k), reduced total liabilities to $17.2 million (down from $52.2 million), and decreased stockholders' deficit to $974k (from $50.4 million). Operating expenses increased to $5.5 million, up from $2.2 million year-over-year. The company secured a $10 million equity line of credit and is transitioning to an asset-light partnership model.
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