Guardforce AI's second equity raise in a week dents shares

Guardforce AI

11/05/2023 12:38

** Shares of Guardforce AI Co  GFAI.O  shares down 33% at
$4.90 premarket after co prices another follow-on
    ** Thailand-based co late Weds announced ~2.58 mln shares at
$4.65 for $12 mln raise
    ** Offering prices at 36% discount to stock's last close
    ** Co last week sold 1.7 mln shares at $4.65 for $8 mln
raise to further advance AI (artificial intelligence) and
robotic business, tech capabilities
    ** Co has ~3.9 mln shares outstanding as of May 10, per
recent SEC filing
    ** Stock soared as high as $36.90 last month, boosted by
retail investor interest in AI-related names, sparked by
Microsoft's  MSFT.O  multi-billion investment in OpenAI, startup
behind ChatGPT

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))