Guardforce’s $10.3 Million Private Placement

Hunter Taubman Fischer & Li acted as counsel to the placement agent.

Guardforce AI Co., Ltd., an integrated security solutions provider in Asia, announced the closing of its private placement of ordinary shares and warrants for gross proceeds of approximately $10.3 million before deducting the placement agent’s fees and other estimated offering expenses.

Under the terms of the securities purchase agreement, the Company sold 7,919,997 ordinary shares and warrants to purchase 11,879,993 ordinary shares. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.30 per share. The warrants will expire five years from the date of issuance. The purchase price for one ordinary share and one and one-half corresponding warrants was $1.30.

EF Hutton, division of Benchmark Investments, LLC acted as exclusive placement agent for the private placement.

Hunter Taubman Fischer & Li acted as counsel to the placement agent with Louis Taubman (Picture) and Guillaume de Sampigny.

Involved fees earner: Guillaume de Sampigny – Hunter Taubman Fischer & Li LLC; Louis Taubman – Hunter Taubman Fischer & Li LLC;

Law Firms: Hunter Taubman Fischer & Li LLC;

Clients: EF Hutton;