SHENZHEN, Feb. 19, 2021 -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announced today that the Company has entered into a consulting agreement (the \"Consulting Agreement\") with Great Bay Capital Investment Limited (\"Great Bay\").<\/p>
Pursuant to the Consulting Agreement, TAOP engaged Great Bay as a consultant for a two-year term effective February 19, 2021. Great Bay will provide various consulting services including the following:<\/p>
Provide the Company with business development services focused on blockchain and digital assets (such as Bitcoin, Ethereum, etc.) investment opportunities.<\/p>
Introduce TAOP to potential investors for strategic investment.<\/p>
Introduce potential M&A targets in blockchain industry, and assist TAOP in completing relevant due diligence work and propose M&A plans.<\/p>
“TAOP started research on applying blockchain technology to Taoping New-media Ecosystem three years ago. In the past three years, we kept upgrading Taoping smart cloud platform and Taoping screens are now available in 211 cities across 26 provinces in China. Also, growing market demand for digital assets such as Bitcoin, maturity of advanced solutions, and improving regulatory clarity present considerable market opportunities. It’s time for TAOP to embrace the opportunities in blockchain industry and digital assets, especially Bitcoin,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We believe Great Bay can help us achieve this goal.”<\/p>
In consideration for the services to be provided by Great Bay, the Company agreed to issue to Great Bay a warrant (the “Warrant”) within 7 days after the execution of the Consulting Agreement for the purchase of 1,000,000 ordinary shares of the Company, exercisable at $3.50 per share (subject to adjustment) at any time prior to the 181st calendar day after the date of issuance. The Warrant can only be exercised for cash. The Warrant and its underly ordinary shares will be issued to Great Bay in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended and/or Regulation S promulgated thereunder.<\/p>
SHENZHEN, Feb. 19, 2021 -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announced today that the Company has entered into a consulting agreement (the \"Consulting Agreement\") with Great Bay Capital Investment Limited (\"Great Bay\").<\/p>","isAllowCommet":0,"isHot":0,"isNew":0,"isShow":1,"isShowInHome":1,"lang":1,"m":0,"n":0,"navigatorId":720,"navigatorRootId":930,"nickName":"管理员","productTypeId":0,"sort":0,"sourceId":0,"tags":"","title":"TAOP Enters into Consulting Agreement with Great Bay Capital Investment for Blockchain Deployment","url":"","visitCount":0},{"articleId":5012,"attachment":"","auditStatus":1,"banner":"","company":3,"createTime":"2021-02-23 21:00:00","detail":"
SHENZHEN, Feb. 23, 2021 -- Taoping Inc. (NASDAQ: TAOP, the “Company”), 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 securities purchase agreements with certain investors to raise approximately $7.75 million through the issuance of 1,900,000 ordinary shares at a purchase price of $4.08 (average closing price for the 20-trading days ended February 19, 2021). TAOP intends to use the net proceeds from the offering for working capital and general corporate purposes. <\/p>
The private placement is expected to close no later than March 21, 2021. The consummation of the private placement is subject to the satisfaction of certain customary closing conditions. The parties have made customary representations, warranties and indemnifications to each other in the securities purchase agreement. For more details of the private placement, please see the Company’s Report on Form 6-K to be filed on or about February 23, 2021.<\/p>
“This financing provides TAOP with the capital to take advantage of the opportunities in our industry. I would like to thank all new and existing shareholders for their continued support. We look forward to continuing our approach to value creation in 2021,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP.<\/p>
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and pursuant to an exemption from the registration requirements of Section 5 of Securities Act of 1933, as amended (the “Securities Act”) contained in Section 4(a)(2) thereof and/or Regulation S promulgated under the Securities Act. Accordingly, the securities have not been registered under the Securities Act and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.<\/p>
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.<\/p>
SHENZHEN, Feb. 23, 2021 -- Taoping Inc. (NASDAQ: TAOP, the “Company”), 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 securities purchase agreements with certain investors to raise approximately $7.75 million through the issuance of 1,900,000 ordinary shares at a purchase price of $4.08 (average closing price for the 20-trading days ended February 19, 2021). TAOP intends to use the net proceeds from the offering for working capital and general corporate purposes. <\/p>","isAllowCommet":0,"isHot":0,"isNew":0,"isShow":1,"isShowInHome":1,"lang":1,"m":0,"n":0,"navigatorId":720,"navigatorRootId":930,"nickName":"管理员","productTypeId":0,"sort":0,"sourceId":0,"tags":"","title":"TAOP Enters into a $7.75 Million Private Placement","url":"","visitCount":0},{"articleId":5015,"attachment":"","auditStatus":1,"banner":"","company":3,"createTime":"2021-03-02 21:00:00","detail":"
SHENZHEN, Mar. 2, 2021 -- Taoping Inc. (NASDAQ: TAOP, the “Company”), 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 strategic investors (the “Investors”) on March 1, 2021.<\/p>
Pursuant to the Purchase Agreement, the Company agreed to sell to the Investors an aggregate of 500,000 ordinary shares, no par value (the “Ordinary Shares”) at a purchase price of $6.70 per share, in a registered direct offering. The gross proceeds to the Company from the financing are $3.35 million before deducting estimated offering expenses.<\/p>
For more details of the financing, please see the Company’s Report on Form 6-K to be filed on or about March 2, 2021.<\/p>
The Ordinary Shares described above are being offered through a prospectus supplement pursuant to the Company’s effective shelf registration statement and the base prospectus contained therein. A shelf registration statement (SEC Filing No. 333-229323) relating to these securities has been filed with and was declared effective by the Securities and Exchange Commission (the “SEC”) on February 11, 2019. A prospectus supplement related to the offering will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.<\/p>