2023-05-23 10:07:46 ET
- authID ( NASDAQ: AUID ) enters agreement with investors to sell ~15.5M shares in a registered direct offering, and a concurrent private placement.
- The purchase price for one share in the offering and the concurrent private placement will be $0.458.
- The concurrent private placement, the company entered into a definitive agreement with holders of its March 2022 senior secured convertible notes to exchange ~$7.1M of outstanding principal amount of the convertible notes.
- Gross proceeds from both are expected to be ~$7.1M.
- Closing for both is expected to be May 25, 2023.
- Net proceeds from both will be deployed for working capital and general corporate purposes.
For further details see:
authID prices $7.1M direct offering and concurrent private placement