Taoping falls on discounted share offering
12/07/2021 15:09
** Shares of cloud-based tech co TAOP.O down 3.8% at $4.06
** Co says has entered into agreement to sell 1.2 mln shares
at $4.15 each in a registered direct offering
** Price represents discount of 1.7% to stock's last close
** Total proceeds from offering would be $4.98 mln - TAOP
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** Co to use proceeds for working capital and general
corporate purchases
** Stock up ~49% YTD, as of last close
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com;))