TAOP Enters into a $7.75 Million Private Placement
Taoping Inc. - Ordinary Shares (TAOP)
Company Research
Source: GlobeNewswire
SHENZHEN, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it has entered into securities purchase agreements with certain investors to raise approximately $7.75 million through the issuance of 1,900,000 ordinary shares at a purchase price of $4.08 (average closing price for the 20-trading days ended February 19, 2021). TAOP intends to use the net proceeds from the offering for working capital and general corporate purposes. The private placement is expected to close no later than March 21, 2021. The consummation of the private placement is subject to the satisfaction of certain customary closing conditions. The parties have made customary representations, warranties and indemnifications to each other in the securities purchase agreement. For more details of the private placement, please see the Company’
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