authID Announces Registered Direct Offering, Raising Anticipated Funds for Growth
Denver, CO – March 31, 2025
authID Inc. (NASDAQ: AUID), a pioneering company in biometric identity verification and authentication solutions, recently unveiled plans for a registered direct offering (the “Registered Direct Offering”). This move comes with the intention of selling approximately 1,811,111 shares of its common stock and/or Pre-Funded Warrants. Each Pre-Funded Warrant is exercisable into one share of common stock, with a purchase price set at $4.50 for each Share or Pre-Funded Warrant.
Impact on authID
The Registered Direct Offering is expected to yield substantial funds for authID, with an estimated gross proceeds total of approximately $8,150,000 million. These funds will be utilized primarily for the company’s growth initiatives, including research and development, marketing, and potential acquisitions.
Impact on the World
authID’s innovative biometric identity verification and authentication solutions have the potential to revolutionize the way businesses and governments secure their digital assets and protect user privacy. The funds raised from the Registered Direct Offering will allow the company to expand its offerings, broaden its reach, and further advance the technology, ultimately benefiting consumers and organizations worldwide.
Additional Insights
According to various industry reports, the global biometric technology market is projected to grow at a compound annual growth rate (CAGR) of 15.2% from 2020 to 2025. This growth is attributed to increasing security concerns, the growing adoption of smartphones, and advancements in biometric technologies.
authID’s entry into this market and its continued growth can be seen as a positive sign for investors and the industry as a whole. By providing advanced, secure, and user-friendly biometric identity verification and authentication solutions, authID is contributing to the evolving digital landscape and helping to mitigate security risks for businesses and individuals alike.
Conclusion
authID’s Registered Direct Offering marks an exciting milestone for the company as it continues to make strides in the biometric identity verification and authentication market. With the anticipated funds raised, authID will be well-positioned to expand its offerings, broaden its reach, and further advance the technology, ultimately benefiting consumers and organizations worldwide. As the world becomes increasingly reliant on digital platforms, the need for secure and efficient identity verification solutions has never been greater, and authID is poised to meet that demand.
- authID enters into a definitive agreement for a registered direct offering
- Approximately 1,811,111 shares of common stock and/or Pre-Funded Warrants to be sold
- Purchase price for one Share or Pre-Funded Warrant: $4.50
- Estimated gross proceeds: $8,150,000 million
- Funds to be used for growth initiatives, including R&D, marketing, and potential acquisitions
- Global biometric technology market projected to grow at a CAGR of 15.2% from 2020 to 2025
- authID’s solutions will help mitigate security risks and contribute to the evolving digital landscape
