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home / news releases / GFAI - Guardforce announces LOI to acquire Shenzhen Kewei Robot Technology

GFAI - Guardforce announces LOI to acquire Shenzhen Kewei Robot Technology

Guardforce AI Co. Limited
  • Guardforce AI ( NASDAQ: GFAI ) has signed a non-binding letter of intent with Shenzhen Intelligent Guardforce Robot Co., Ltd to acquire Shenzhen Kewei Robot Technology Company Limited.
  • The move will provide new robotics-as-a-service capabilities, add key patents and expand Global Fortune 500 customer base .
  • The company plans to pay for this acquisition through a combination of cash 10% and restricted common stock of the company 90% at a value of no less than $1/share.
  • Guardforce AI expects to enter into a definitive purchase pact with Kewei relating to this acquisition within the next few months.

  • The pact supersedes previously announced LOI to acquire 19 robotics subsidiaries of Shenzhen Kewei .

For further details see:

Guardforce announces LOI to acquire Shenzhen Kewei Robot Technology
Stock Information
Company Name: Guardforce AI Co. Limited
Stock Symbol: GFAI
Market: NASDAQ
Website: guardforceai.com
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