Data Storage Corp. Signs Material Definitive Agreement
Ticker: DTSTW · Form: 8-K · Filed: Jul 18, 2024 · CIK: 1419951
| Field | Detail |
|---|---|
| Company | Data Storage Corp (DTSTW) |
| Form Type | 8-K |
| Filed Date | Jul 18, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $50,000, $10,600,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement
TL;DR
Data Storage Corp. signed a big deal on July 18th, details TBD.
AI Summary
On July 18, 2024, Data Storage Corp. entered into a material definitive agreement. The filing does not provide specific details about the agreement, its counterparty, or any associated financial figures.
Why It Matters
This filing indicates a significant new business development for Data Storage Corp., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- Data Storage Corp. (company) — Registrant
- July 18, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Data Storage Corp.?
The filing does not specify the nature of the material definitive agreement.
Who is the counterparty to the material definitive agreement?
The filing does not disclose the identity of the counterparty to the agreement.
Are there any financial terms or dollar amounts associated with this agreement?
The filing does not provide any specific financial terms or dollar amounts related to the agreement.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on July 18, 2024.
What is the purpose of this Form 8-K filing?
This Form 8-K is filed to report the entry into a material definitive agreement and related financial statements and exhibits.
Filing Stats: 1,146 words · 5 min read · ~4 pages · Grade level 12.5 · Accepted 2024-07-18 16:33:35
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share DTST The Nasdaq Capital M
- $50,000 — for certain specified expenses of up to $50,000. The Company is not obligated to make
- $10,600,000 — pectus relates to the offering of up to $10,600,000 shares of the Company's common stock. T
Filing Documents
- e5825_8k.htm (8-K) — 38KB
- 0001731122-24-001131.txt ( ) — 252KB
- dtst-20240718.xsd (EX-101.SCH) — 4KB
- dtst-20240718_def.xml (EX-101.DEF) — 26KB
- dtst-20240718_lab.xml (EX-101.LAB) — 36KB
- dtst-20240718_pre.xml (EX-101.PRE) — 25KB
- e5825_8k_htm.xml (XML) — 6KB
01. Entry into
Item 1.01. Entry into a Material Definitive Agreement. On July 18, 2024, Data Storage Corporation (the "Company") entered into an Equity Distribution Agreement (the "Agreement"), with Maxim Group LLC ("Maxim"), pursuant to which the Company may offer and sell, from time to time, through Maxim, as sales agent or principal, shares of its common stock, $0.001 par value per share (the "common stock"). conditions of the Agreement, Maxim will use commercially reasonable efforts consistent with its normal trading and sales practices, applicable Company's instructions, including any price, time or size limits specified by the Company. Under the Agreement, Maxim may sell shares by any method deemed to be an "at the market" offering as defined in Rule 415 under the U.S. Securities Act of 1933, as amended, or any other method permitted by law, including in privately negotiated transactions. Maxim's obligations to sell shares under the Agreement are subject to satisfaction of certain conditions, including customary closing conditions for transactions of this nature. The Company will pay Maxim a commission of 2.5% of the aggregate gross proceeds from each sale of shares and has agreed to provide Maxim with customary indemnification and contribution rights. The Company also agreed to reimburse Maxim for certain specified expenses of up to $50,000. The Company is not obligated to make any sales of its common stock under the Agreement and no assurance can be given that the Company will sell any shares under the Agreement, or, if it does, as to the price or amount of shares that the Company will sell, or the dates on which any such sales will take place. The Agreement will terminate upon the earlier of (i) the sale of all shares under the Agreement, (ii) twelve (12) months from the date of the Agreement, or (iii) as prov
01. Financial Statements
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 1.1 Equity Distribution Agreement, dated July 18, 2024, by and between Data Storage Corporation and Maxim Group LLC (Incorporated by reference to Exhibit 1.1 of the Registrant's Registration Statement on Form S-3 (File No. 333-280881) filed July 18, 2024) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 18, 2024 DATA STORAGE CORPORATION By: /s/ Charles M. Piluso Name: Charles M. Piluso Title: Chief Executive Officer