Iveda Announces Pricing for $8.0 Million Public Offering,

MESA, AZ., March 31, 2022 (GLOBE NEWSWIRE) — Iveda Solutions, Inc. (OTCQB: IVDA) (“Iveda” or the “Company”), the global provider of IvedaAI intelligent video search technology, Feel® CCTV products, IvedaPinpoint and Iveda Home IoT (Internet of Things) platforms with smart devices, today announced the price of its underwritten public offering of 1,885,000 common shares and accompanying warrants to purchase 1,885,000 common shares , at an aggregate offering price of $4.25 per common share and accompanying warrant. The warrants will be immediately exercisable at a price of $4.25 per common share and will expire five years from the date of issue. The Common Shares and the Warrants accompanying them may only be purchased together under the Offer, but will be issued separately and will be immediately severable upon issuance. The common shares and warrants are expected to begin trading on the Nasdaq Capital Market on April 1, 2022, under the symbols “IVDA” and “IVDAW”, respectively. Iveda expects to receive gross proceeds of $8.0 million, before underwriting discounts and commissions and other estimated offering costs. Pursuant to the Offer and to qualify for listing on Nasdaq, the Company effected a reverse consolidation of its issued and outstanding common shares at a ratio of 1:8. at 6:00 p.m. Eastern Time Thursday, March 31, 2022. Share count and price information in this release is adjusted to reflect the impact of the reverse stock split. The new CUSIP number for the common stock following the reverse split is 46583A204.

Iveda has granted the underwriters a 45-day option to purchase up to 279,700 additional common shares and/or up to 279,700 additional warrants at the public offering price to cover over-allotments, if any. The offering is expected to close on April 5, 2022, subject to customary closing conditions.

Maxim Group LLC is acting as sole bookrunner for the Offering.

The offering is being conducted pursuant to the Company’s registration statement on Form S-1 (File No. 333-261963), as amended, previously filed with the Securities and Exchange Commission (“SEC”) and subsequently declared effective by it. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16and Floor, New York, NY 10022, at (212) 895-3745.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration. or qualification under the securities laws of such state or territory.

On Iveda:

Iveda® (OTCQB:IVDA) specializes in IoT platforms that provide service providers with turnkey cloud video surveillance system, smart sensors and smart video search technology. Iveda uses a proprietary command center, big data storage, and deep learning algorithms. Iveda has received SAFETY Act protections from the United States Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Based in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the symbol “IVDA”.

Caution Regarding Forward-Looking Statements

Jits press release includes forward-looking statements. Actual results may differ materially from those expected. Iveda the business is subject to significant risks and uncertainties described in more detail in the Company’s filings with the SEC, including, but not limited to, its registration statement on Form S-1 and Form 10-K with audited financial statements for the year ended December 31, 2021 and 31 December 2020 and its quarterly reports subsequently filed on Form 10-Q. You should not place undue reliance on forward-looking statements as they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Iveda 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 these risk factors, and readers are urged to carefully consider these factors. 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 unforeseen events.

Contact:

Iveda
Ty Young
Communications Director
Phone. : +1 (623) 565-9320
Email: [email protected]

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