Loan & DebtApr 29, 2026, 09:46 AM
AUID to Raise $4M via Senior Secured Debentures & Warrants Private Placement
AI Summary
authID Inc. announced a definitive agreement for a private placement offering of Senior Secured Debentures and Warrants, expecting to raise approximately $4,000,000 in gross proceeds. The company has received subscriptions for about $3.5 million, with directors Stephen Garchik and Ken Jisser participating. The net proceeds will be used for working capital and general corporate purposes.
Key Highlights
- Expected gross proceeds of approximately $4,000,000 from private placement.
- Received subscriptions for approximately $3,500,000 to date.
- Offering includes Senior Secured Debentures and Warrants to purchase common stock.
- Warrants exercisable 6 months from closing at an exercise price of $1.50.
- Investors to receive a 15% fee, payable in common stock (Fee Shares) priced at $1.00.
- Directors Stephen Garchik and Ken Jisser agreed to participate in the offering.
- Net proceeds to be used for working capital and general corporate purposes.
Price Impact
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