IVDA - Iveda prices $8M stock offering uplists to Nasdaq announces reverse stock split

Iveda Solutions (OTCPK:IVDA) priced its underwritten public offering of 1.89M shares and accompanying warrants at combined offering price of $4.25/share. The warrants will be immediately exercisable and will expire five years from issuance date. Underwriters granted 45-day option to purchase up to an additional 279.7K shares and/or up to an additional warrants. Gross proceeds expected to be $8M. Offer is expected to close on Apr.5. Related to the offering and to qualify for Nasdaq listing, the company effectuated a reverse split of its issued and outstanding common stock at a ratio of 1-for-8, effective Mar.31.

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Iveda prices $8M stock offering, uplists to Nasdaq, announces reverse stock split