Founded in 2003, Iveda Solutions (IVDA) is an Arizona-based provider of AI-based search technology that grants true intelligence to any video surveillance system and Internet of Things devices and platforms in the United States and Taiwan. The company's product portfolio includes IvedaAI, IvedaPinpoint, Sentir Video, Cerebro, and IvedaSPS, which serves airports, commercial buildings, government customers, data centers, shopping centers, hotels, banks, and safe city projects.
Iveda Solutions became public on the Nasdaq through a traditional IPO on April 1st, 2022, by selling 1.89 million shares at $4.25 a share. The company uplisted its shares from the OTC on April 1st, conducting a 1-for-8 reverse stock split before the IPO. The company's gross proceeds from the stock offering are expected to be about $8 million, and the company plans to spend it on general corporate purposes. It’s important to note that the stock ended its first trading session at $3.77. However, the company has since given back those gains, closing Monday's trading session at $2.54, about 67% lower than its initial public offering price.
