authID Inc. announced on April 2, 2025, the closing of a registered direct offering, raising aggregate gross proceeds of $8,150,000. The company sold 1,811,120 shares of its common stock and/or Pre-Funded Warrants at a purchase price of $4.50 per share or warrant. The net proceeds from this offering are intended for working capital and general corporate purposes.
In connection with the closing, an Advisory Board was created, comprising Mr. Eric Swider and Mr. Donald Nitti. Both advisors bring extensive experience from various industry and government sectors where authID’s biometric identity solutions can address critical needs. CEO Rhon Daguro welcomed the new partners and advisors, noting their potential to expand authID’s footprint.
This capital infusion provides necessary liquidity to fund authID's operations and investments in the near term. The offering was facilitated by Dominari Securities LLC and Madison Global Partners, LLC, acting as Co-Placement Agents. This financial move is crucial for supporting authID's growth ambitions and strategic initiatives in the evolving biometric identity market.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.