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GUARDFORCE AI CO., LIMITED (GFAI)

Price chart

-22.89%
Return from IPO

Company News

IPO Profile

About company

(Note: This is NOT an IPO. This is a NASDAQ uplift – a unit offering. Each unit consists of one share of common stock (proposed symbol GFAI) and one warrant to buy one share of common stock (proposed symbol GFAIW). The company’s stock has traded on the OTC Market under the symbol “GRDAF”. Guardforce AI Co., Limited is incorporated in the Cayman Islands.)We are a market leader with almost 40 years of experience in the cash logistics business in Thailand and their services include cash-in-transit dedicated vehicles to banks, ATM management, cash center operations, cash processing, coin processing, cheque center, and cash deposit machine solutions (cash deposit management and express cash service). Their customers include local commercial banks, chain retailers, coin manufacturing mints, and government authorities. Their five major customers are Government Savings Bank, Bank of Ayudhya, TMB Bank, Thanachart Bank and CP All Public Company. A few global customers also retain their services under temporary contract. As of the date of this prospectus, they employed 1,814 staff located in 21 branches of GF Cash (CIT) and had 478 vehicles.They were founded in 2018 to acquire their operating subsidiary GF Cash (CIT). The principal office of their Company is located in Bangkok, Thailand.Their operating subsidiary, GF Cash (CIT), was founded in 1982 (the Company was formerly named Securicor (Thailand) Limited) and was renamed G4S Cash Service (Thailand) Limited in 2005. The Company was renamed again as Guardforce Cash Solution (Thailand) Limited in 2016 and the name was further changed to Guardforce Cash Solution Security (Thailand) Company Limited in 2018. The principal office of GF Cash (CIT) is located in Bangkok, Thailand.Substantially all of their revenues are derived from GF Cash (CIT)’s secure logistic business and gross revenue for the years ended Dec. 31, 2020, and 2019 was approximately $37.65 million and $38.57 million, respectively.In 2020, in addition to their secure cash logistics business, they began to develop other non-cash related solutions and services. In view of the pace of global robotics development and in response to the more automated requirements, driven in part by the COVID-19 pandemic, they have begun to rollout robotic solutions for their customers in Thailand and the rest of the Asia Pacific region. As of Dec. 31, 2020, they had generated approximately $0.2 million in revenue from their robotic solutions business.
Industry
Services-detective, Guard & Armored Car Services
CEO CFO
-
Employees Founded
1814 1982

Contacts

Address: 96 Vibhavadi Rangsit Road, Talad Bangkhen, Laksi, Bangkok 10210, Thailand

Telephone: +66 (0) 2973 6011

Web page:

IPO information

First Trade Date 9/29/2021
Status Priced
Exchange NASDAQ
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Shares & Volumes

Shares Initial (MM) 3.6
Shares Revised (MM) 3.6
Expected offer amount (MM) $15
Realized offer amount(MM) $14.94

Financial Data (last reporting year)

Market Cap (MM) $85.45
Revenues (MM) $37.65
Net Income (Loss) (MM) $-3.14

Voting

What do you think will happen with the GFAI share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

Number of votes: img
The lead left underwriter: EF Hutton

IPOs led by the firm .Pro
Profitability of conducted IPOs  ?  .Pro
1st day change  ?  .Pro
Change for the first 3 months  ?  .Pro
Underwriters
EF Hutton (formerly Kingswood, a division of Benchmark Investments)
CO-Managers
-

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