NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) — Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) 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 1,720,430 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 $8.0 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 258,064 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 5, 2023, subject to satisfaction of customary closing conditions.

EF Hutton, division of Benchmark Investments, LLC, is acting as the lead book-running manager for the offering. Spartan Capital Securities, LLC is acting as the co-manager for the offering.

The ordinary shares are being offered by the Company pursuant to a “shelf” registration statement on Form F-3 (File No. 333-261881), which was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on January 5, 2022, and the accompanying prospectus contained therein.

The offering is being made only by means of a Prospectus Supplement and accompanying prospectus. A prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement. A preliminary prospectus supplement and Accompanying Prospectus Relating to this offering have been filed with the SEC.

Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting EF Hutton, division of Benchmark Investments, LLC…