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HTFL’s Client EF Hutton, division of Benchmark Investments, LLC Successfully Closed Guardforce AI Co., Ltd’s Private Placement of $10.3 Million

January 21, 2022

Louis Taubman

Guillaume de Sampigny

Guardforce AI Co., Ltd. (“the Company”), an integrated security solutions provider in Asia, on January 20, 2022, 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 LLC (“HTFL”) acted as counsel to the placement agent. HTFL is a boutique law firm specializing in corporate, commercial and securities transactions, cross-border financing, immigration and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.