Mesa, AZ., Aug. 09, 2022 (GLOBE NEWSWIRE) -- Iveda Solutions, Inc. (“Iveda” or the “Company”) (Nasdaq: IVDA), the worldwide provider of IvedaAITM intelligent video search technology, Sentir® video surveillance products, IvedaPinpointTM and IvedaCareTM IoT (Internet of Things) platforms with smart devices, announced today that it has entered into a securities purchase agreement with institutional investors to raise approximately $5 million in gross proceeds through the private placement of 3,289,474 shares of common stock (or pre-funded warrants in lieu thereof), and 3,289,474 Warrants. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with accompanying warrants at a combined effective purchase price of $1.52. The Warrants will be exercisable immediately from the date of issuance at an exercise price of $1.40 per share and will expire five and half years from the date of issuance. The closing of the private placement is expected to occur on August 11, 2022, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreement.
Iveda Solutions (Nasdaq:IVDA) Announces $5 Million Private Placement
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