Integrated security solutions provider Guardforce AI (NASDAQ:GFAI) has announced a public offering for the second time this month and shares of the company are on the plunge…again.
The underwritten public offering is for nearly 2.58 million GFAI shares at $4.65 apiece. The offer is expected to close on May 15 and the company has given the underwriters a 45-day option to acquire an additional 387,090 shares at the offer price.
This $12 million offer comes fresh on the heels of a $8 million public offering by GFAI earlier this month.
After falling nearly 56.4% over the past month, GFAI shares are down a further 33% at the time of publishing today. Short interest in the stock currently remains at about 4.5%.
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