authID Inc. plans to sell 373,060 shares at $5.60 each, raising approximately $2.1 million for corporate purposes.
Quiver AI Summary
authID Inc. has announced a definitive agreement to sell approximately 373,060 shares of its common stock at a price of $5.60 per share, aiming to raise roughly $2.1 million before expenses through a registered direct offering. The closing of this offering is expected on or around May 7, 2025, pending customary closing conditions. The company plans to use the net proceeds for working capital and other corporate purposes. Dominari Securities LLC and Madison Global Partners, LLC are serving as co-placement agents for the offering. The shares are being issued under a shelf registration statement filed with the SEC. This press release includes forward-looking statements, and actual results may vary due to various risk factors.
Potential Positives
- authID Inc. successfully secured approximately $2,100,000 in gross proceeds through a registered direct offering, enhancing its financial resources.
- The offering allows authID to bolster working capital and support general corporate purposes, indicating growth potential.
- The offering was facilitated by reputable placement agents, Dominari Securities LLC and Madison Global Partners, LLC, enhancing investor confidence in the transaction.
Potential Negatives
- The company is raising capital through a stock offering, which could indicate financial difficulties or the need for liquidity.
- The issuance of new shares may dilute existing shareholders' equity, potentially leading to a decline in stock price.
- The reliance on a direct stock offering for working capital may raise concerns among investors regarding the company's financial stability and growth prospects.
FAQ
What is authID Inc.'s recent financial announcement?
authID Inc. has announced a registered direct offering to sell approximately 373,060 shares of common stock at $5.60 per share.
When is the expected closing date for the offering?
The closing of the Registered Direct Offering is expected to occur on or about May 7, 2025.
What will the proceeds from the offering be used for?
authID intends to use the net proceeds for working capital and general corporate purposes.
Who acted as placement agents for this offering?
Dominari Securities LLC and Madison Global Partners, LLC acted as Co-Placement Agents for the offering.
Where can investors find the prospectus for the offering?
Investors can obtain the prospectus supplement and accompanying prospectus for free on the SEC’s website at http://www.sec.gov.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AUID Insider Trading Activity
$AUID insiders have traded $AUID stock on the open market 11 times in the past 6 months. Of those trades, 3 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $AUID stock by insiders over the last 6 months:
- KEN JISSER purchased 8,000 shares for an estimated $51,840
- THOMAS ROBERT SZOKE (Chief Technology Officer) has made 0 purchases and 8 sales selling 7,101 shares for an estimated $45,939.
- MICHAEL CHARLES THOMPSON purchased 5,000 shares for an estimated $32,462
- RHONIEL DAGURO (Chief Executive Officer) purchased 4,000 shares for an estimated $25,920
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$AUID Hedge Fund Activity
We have seen 11 institutional investors add shares of $AUID stock to their portfolio, and 4 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 89,908 shares (+44.2%) to their portfolio in Q4 2024, for an estimated $541,246
- SCOGGIN MANAGEMENT LP added 25,000 shares (+16.7%) to their portfolio in Q4 2024, for an estimated $150,500
- BRIGHTON JONES LLC removed 18,392 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $110,719
- BLACKROCK, INC. removed 8,696 shares (-27.4%) from their portfolio in Q1 2025, for an estimated $42,175
- UBS GROUP AG added 7,937 shares (+104.8%) to their portfolio in Q4 2024, for an estimated $47,780
- CORIENT PRIVATE WEALTH LLC added 6,375 shares (+40.8%) to their portfolio in Q4 2024, for an estimated $38,377
- COMERICA BANK added 6,300 shares (+58.2%) to their portfolio in Q4 2024, for an estimated $37,926
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DENVER, May 06, 2025 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today announced it has entered into a definitive agreement with investors to sell approximately 373,060 shares of its common stock (the “Shares”), pursuant to a registered direct offering (the “Registered Direct Offering”). The purchase price for one Share will be $5.60. The aggregate gross proceeds from the Offering are expected to be approximately $2,100,000 million before deducting placement agent fees and other offering expenses.
The closing of the Registered Direct Offering is expected to occur on or about May 7, 2025, subject to the satisfaction of customary closing conditions.
Dominari Securities LLC and Madison Global Partners, LLC, acted as Co-Placement Agents for the offering.
authID intends to use the net proceeds for working capital and general corporate purposes.
The Shares offered in the Registered Direct Offering are being offered by the Company pursuant to a shelf registration statement (Registration No. 333-283580) filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on December 13, 2024. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement and accompanying prospectus relating to the Registered Direct Offering will be filed with the SEC and, when available, may be obtained for free on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the Registered Direct offering may be obtained by contacting Madison Global Partners, LLC, Attention: David S. Kaplan, 350 Motor Parkway, Suite 205, Hauppauge, NY 11788, by email at [email protected] , or by telephone at (646) 690-0330.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
About authID Inc.
authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.
For further information please visit authid.ai
Media Contacts
NextTech Communications
Walter Fowler
1-631-334-3864
[email protected]
Investor Relations Contacts
[email protected]
Cautionary Statement Regarding Forward-Looking Statements:
This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein are forward-looking statements. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2024, filed at www.sec.gov and other documents filed with the SEC for risk factors which investors should consider. These forward-looking statements speak only as to the date of this release and cannot be relied upon as a guide to future performance. authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based.
