Welcome to our dedicated page for Data Storage news (Ticker: DTST), a resource for investors and traders seeking the latest updates and insights on Data Storage stock.
Data Storage Corporation (DTST) provides mission-critical cloud hosting, disaster recovery, and cybersecurity solutions that protect enterprise data across industries. This page serves as the definitive source for verified news and official announcements related to DTST’s operational developments, financial performance, and strategic initiatives.
Investors and industry professionals will find curated updates including earnings disclosures, partnership agreements, product enhancements, and compliance milestones. Our aggregation ensures efficient access to material developments affecting DTST’s position in the data protection and business continuity markets.
All content is rigorously vetted to provide accurate, non-speculative information aligned with regulatory standards. Bookmark this page for streamlined tracking of DTST’s progress in securing critical IT infrastructure for government, healthcare, and enterprise clients worldwide.
Data Storage Corporation (Nasdaq: DTST, DTSTW) has announced a securities purchase agreement to raise approximately $8.3 million through a registered direct offering and a concurrent private placement. The company will sell 1,375,000 shares of common stock at a price of $6.04 per share, along with warrants for 1,031,250 shares. The offering is set to close on or about July 21, 2021, subject to customary conditions. Maxim Group LLC is the placement agent, and the proceeds will support their business continuity and cloud infrastructure solutions.
Data Storage Corporation (Nasdaq: DTST) announced receiving approximately $2.1 million from the voluntary exercise of warrants linked to its May 2021 financing. CEO Chuck Piluso highlighted that this influx strengthens the company's balance sheet and continues to support positive cash flow. He emphasized the opportunity for significant shareholder value due to the migration to IBM cloud services and an increased focus on cybersecurity. The company remains committed to delivering IT solutions, including Infrastructure as a Service and disaster recovery.
Data Storage Corporation (Nasdaq: DTST) announced that CEO Charles M. Piluso will present at the Access to Giving Virtual Conference from July 13-15, 2021. The presentation is scheduled for July 14, 2021, at 10:30 a.m. ET. Participants can access the live presentation through the provided link. The conference aims to connect companies with qualified investors for charity, with all fundraising directed towards financial literacy initiatives. For more details about the event or to arrange meetings, visit the Access to Giving website.
Data Storage Corporation (Nasdaq: DTST) has successfully merged with Flagship Solutions, LLC, enhancing its service offerings in cloud solutions and IT management. The merger positions DSC as a comprehensive provider of multi-cloud IT solutions, capitalizing on the ongoing transition of customers to the IBM cloud. Flagship's CEO Mark Wyllie will continue to lead the merged entity and join DSC's Board. The merger is seen as highly synergistic, with expected growth acceleration as the IBM cloud market expands.
Data Storage Corporation (Nasdaq: DTST) announced its participation in the Summer Solstice Conference, hosted by The MicroCap Rodeo, from June 1-4, 2021. Chuck Piluso, CEO, is scheduled to present on June 1 at 5:00 PM ET and will engage in one-on-one meetings with investors during the event. The presentation will be webcast live and available for replay. The conference focuses on presenting top investment ideas to qualified institutional investors, featuring 25 companies recommended by buy-side professionals.
Data Storage Corporation (Nasdaq: DTST) has appointed Chris Panagiotakos as the new Chief Financial Officer, bringing over 23 years of public company accounting experience. Previously, Panagiotakos served as Vice President and Corporate Controller at Cinedigm Corp. His expertise in accounting and compliance will support DSC's efforts to boost organic growth and integrate operations post their recent public offering and Nasdaq uplisting. CEO Chuck Piluso expressed confidence in Panagiotakos’ ability to contribute significantly to establishing DSC as a leader in the expanding IBM Power markets.
Data Storage Corporation (NASDAQ: DTST, DTSTW) has successfully completed an underwritten public offering of 1,600,000 units at $6.75 per unit, raising approximately $10.8 million before expenses. Each unit includes one share of common stock and one warrant at an exercise price of $7.425. The company plans to utilize the net proceeds for sales force expansion, marketing, business development, and covering liabilities related to its acquisition of Flagship Solutions, LLC. The offering was managed by Maxim Group LLC, and the common stock began trading on May 14, 2021.
Data Storage Corporation (OTC: DTST) has priced its upsized public offering at $6.75 per unit, comprising one share of common stock and a warrant at an exercise price of $7.425. The offering totals 1,600,000 units, expected to generate gross proceeds of $10.8 million. A reverse stock split at a 1-for-40 ratio will be effective on May 14, 2021, prior to trading on Nasdaq. Underwriters have an option for an additional 240,000 units. The offering closes on May 18, 2021. Maxim Group LLC is the sole book-running manager for the offering.
Data Storage Corporation (OTC: DTST) has announced the promotion of Joseph Lupo to Director of Service Delivery. With over 15 years of industry experience, Lupo will oversee the Service Delivery Team, enhancing client experience and satisfaction. His previous roles at ABC Services included significant contributions to data center build-outs and client onboarding. Executive VP Thomas Kempster highlighted Lupo's leadership as critical in expanding their customer base while maintaining a 95% client retention rate and a 97% customer satisfaction rate. This leadership change aims to bolster growth and strengthen operations.
Data Storage Corporation (OTC: DTST) reported a 10% revenue increase to $9.3 million for the year ended December 31, 2020, despite COVID-19 impacts. Key product segments saw strong growth: Nexxis VoIP Services grew 44%, and cloud services rose 6.8%. The company invested in infrastructure and launched new cybersecurity solutions. A merger with Flagship Solutions aims to enhance offerings, while the expansion into Canada includes two new Tier 3 data centers. Operating expenses rose by 13%, but net income increased significantly to $173,359 from $29,323 in 2019.
