Guardforce AI Announces Pricing of $12.0 Million Underwritten Public Offering of Ordinary Shares

May 11, 2023

NEW YORK, May 10, 2023 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), an integrated security provider specializing in secured logistics, AI and Robot-as-a-Service (RaaS), today announced the pricing of its underwritten public offering of 2,580,600 ordinary shares, par value $0.12 per share (the "Ordinary Shares") at a public offering price of $4.65 per share, for aggregate gross proceeds of approximately $12.0 million, prior to deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 387,090 ordinary shares at the public offering price per share, less the underwriting discounts to cover over-allotments, if any. The offering is expected to close on May 15, 2023, subject to satisfaction of customary closing conditions.

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