authID Inc. announced on May 7, 2025, the closing of a follow-on registered direct offering, generating approximately $2,100,000 in aggregate gross proceeds. The company sold 373,060 shares of its common stock at a purchase price of $5.60 per share. This offering was led by investors including Kyle Wool.
The net proceeds from this offering are designated for working capital and general corporate purposes. This capital infusion further enhances authID's liquidity, building on a previous $8.15 million offering in April 2025. The additional funds are critical for supporting the company's ongoing investments in sales, research and development, and strategic initiatives.
Dominari Securities LLC and Madison Global Partners, LLC, acted as Co-Placement Agents for the offering. The shares were offered pursuant to a shelf registration statement filed with the SEC. This financing move is part of authID's strategy to secure the necessary resources to scale its business and capitalize on new market opportunities in biometric identity verification.
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