Guardforce AI Announces Pricing of $10.3 Million Private Placement
Guardforce AI Co., Limited (GFAI)
Company Research
Source: Accesswire
NEW YORK, NY / ACCESSWIRE / January 18, 2022 / Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI) (NASDAQ:GFAIW), an integrated security solutions provider, today announced that it entered into a securities purchase agreement with certain institutional investors to purchase approximately $10.3 million worth of its ordinary shares and warrants in a private placement.Under the terms of the securities purchase agreement, the Company has agreed to sell 7,919,997 ordinary shares and warrants to purchase 11,879,993 ordinary shares. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.30 per share. The warrants will expire five years from the date of issuance. The purchase price for one ordinary share and one and one-half corresponding warrant will be $1.30. The warrants are subject to standard full ratchet anti-dilution provisions and with respect to any subsequent equity sale that is deemed a dilutive issuance, the
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