Digital Ally Inc.
DGLY,
stock jumped 9.8% in premarket trades Thursday after the company said it will separate its ticketing and entertainment unit into a separate, publicly-traded company called Kustom Entertainment Inc. Digital Ally, Inc. will continue its focus as provider of video technology for law enforcement agencies, commercial fleets and event security. The two standalone businesses are expected to post revenue of $23 million to $25 million in 2022. The tax-free distribution of Kustom Entertainment shares to Digital Ally stockholders is expected to take place in the first half of 2023.
