MESA, Ariz., Jan. 05, 2022 (GLOBE NEWSWIRE) -- Iveda (OTCQB: IVDA), the worldwide provider of IvedaAI™ intelligent video search technology, Sentir® video surveillance products, IvedaPinpoint™ and IvedaHome™ IoT (Internet of Things) platforms with smart devices, today announced its application to NASDAQ and the filing of a Form S-1 Registration Statement with the U.S. Securities and Exchange Commission (SEC). The Registration Statement relates to a potential $10 million offering of common stock and warrants to purchase shares of common stock with up to a potential $1.5 million overallotment option.
“We intend to utilize the proceeds of this offering to finance our global expansion. We have applied to list our common stock on the Nasdaq Capital Market in connection with the offering,” said David Ly, CEO of Iveda.
Maxim Group LLC is acting as the sole book running manager for the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the proposed offering, when available, may be obtained by email at syndicate@maximgrp.com.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 registration or qualification under the securities laws of any such state or jurisdiction. This announcement is being issued in accordance with Rule 134 under the Securities Act.
###
Iveda and Sentir are registered trademarks of Iveda Solutions, Inc. IvedaAI, IvedaPinpoint and IvedaHome are trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
About Iveda
Iveda® (OTCQB:IVDA) specializes in IoT platforms that offer service providers a turn-key cloud video surveillance system, smart sensors and intelligent video search technology. Iveda utilizes proprietary command center, big data storage and deep-learning algorithms. Iveda received SAFETY Act protections from the U.S. Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA.”
This release includes forward-looking statements. Actual results may vary materially from those expected. Iveda’s business is subject to significant risks and uncertainties described more thoroughly in the Company’s SEC filings, including but not limited to its Registration Statement on Form S-1 and Form 10-12g with audited financials for the year ended December 31, 2020 and December 31, 2019 and its subsequently filed quarterly reports on Form 10-Q. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Iveda's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
Iveda
Luz A. Berg
Chief Marketing Officer & GM
Tel: +1(480) 307-8700
Email: lberg@iveda.com
