Benzinga | Jan 20, 2021 08:38AM EST

TAOP Enters Securities Purchase Agreement With Certain Investors; Co. To Sell 740,740 Shares At $2.70

SHENZHEN, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ:TAOP, the &quot, Company&quot, ))))), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it has entered into a securities purchase agreement (the "Purchase Agreement") with certain investors (the "Investors") on January 19, 2021.



Pursuant to the Purchase Agreement, the Company agreed to sell to the Investors an aggregate of 740,740 ordinary shares, no par value (the "Ordinary Shares") at a purchase price of $2.7 per share, in a registered direct offering. The gross proceeds to the Company from the financing are approximately $2.0 million before deducting estimated offering expenses.

For more details of the financing, please see the Company's Report on Form 6-K to be filed on or about January 21, 2021.