Damon Inc - DMN STOCK NEWS

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.

Damon Inc. (NASDAQ: DMN) announced key leadership changes to strengthen operational focus. Dominique Kwong, co-founder and former Chief Technology Officer and Chief Operating Officer, has been appointed as interim CEO, replacing Jay Giraud. Shashi Tripathi, current independent director, has been named Chairman of the board.

Kwong brings 25 years of experience in technology companies and was instrumental in developing Damon's CoPilot and SHIFT technologies. Tripathi, founder of Nurture Growth Fund and CEO of Sleepiz USA, brings expertise in technology, operations, and manufacturing, having led three companies to successful exits.

The leadership restructuring aims to accelerate production capabilities and operational efficiency, with a focus on disciplined pre-production management and systematic operational preparation.

Damon Inc. (DMN), an electric motorcycle manufacturer, released a CEO letter outlining development progress and production plans. The company reports 90% completion of vehicle mechanics and power electronics, and 70% completion of battery system development. With over 3,000 refundable reservations representing potential revenue of $100 million, Damon aims to begin production in 2026, subject to securing adequate funding. The company has 16 issued patents and 22 pending applications. Following challenging market conditions since 2022, Damon completed a merger with Grafiti Holdings and secured Nasdaq listing to access capital needed for production.

Damon Inc. (DMN) announces potential new revenue stream through California's Zero-Emission Motorcycle (ZEM) mandates. Similar to Tesla's experience with ZEV credits which generated over $9Bn in revenue, the ZEM program will allow Damon to earn and sell credits for exceeding emission standards. The company's electric motorcycles deliver up to 200 hp, 200 mph, and 200 miles of range, positioning Damon to benefit from these credits with minimal incremental costs. The program supports California's goal to achieve carbon neutrality by 2045 by incentivizing manufacturers to produce zero-emission motorcycles.

Damon Inc. (Nasdaq: DMN) has released a video showcasing its revolutionary HyperSport electric motorcycle, demonstrating the vehicle's impressive performance capabilities. The motorcycle features 200 horsepower, reaches top speeds of 200 mph, and offers an industry-leading 200-mile range on a single charge. The HyperSport includes advanced technology like COPILOT™, combining high performance with safety and smart features. The video provides a comprehensive look at Damon's proprietary electric vehicle platform in action, positioning the company as a leader in the electric motorcycle revolution.

Damon Inc. (Nasdaq: DMN) has made its debut on the Nasdaq Global Market with over $100 million in deposit-backed reservations for its flagship HyperSport and HyperFighter electric motorcycles. The company's motorcycles deliver up to 200 hp, 200 mph, and 200 miles of range, competing directly with premium ICE motorcycles. Notable demographics show 24% of reservations are from non-motorcycle owners, and their customer base is 19 years younger than the average American motorcyclist. Damon's technology includes CoPilot™, an AI-enhanced collision warning system, and Shift™, electronically adaptive ergonomics. The company aims to begin production in 2025, targeting a motorcycle market projected to reach $225.8 billion by 2032.