GFAI - Guardforce AI raises $8M through equity offering priced at $4.65 shares down 58%
2023-05-03 05:32:49 ET
- Guardforce AI ( NASDAQ: GFAI ) has priced its underwritten public offering of 1,720,430 ordinary shares, par value $0.12 per share at $4.65 per share, which is much lower than the yesterday's closing price of $11.69 .
- The company expects gross proceeds of approximately $8M.
- Underwriters' over-allotment is an additional 258,064 ordinary shares.
- The offering is expected to close on May 5, 2023.
- Shares slumped more than 55% in Wednesday's premarket hours.
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Guardforce AI raises $8M through equity offering priced at $4.65, shares down 58%