9 August authID.ai, offering a platform for biometric identity verification, announced the revision of the terms of the upcoming IPO.
Now the company is headquartered in Long Beach, New York State, plans to attract 20 million dollars, releasing 2,1 mln shares at the closing price on OTCQB (AUID) on 3 August, equal 9,63 dollars. The company had previously applied for the issue of 1,8 million shares in 11,03 dollars. Taking into account the revised IPO conditions, authID.ai will raise the same amount of funds, as planned, and its total diluted market value will be 267 million dollars (-14% compared to initial conditions).
Ipsidy (authID.ai) offers safe, mobile software products for biometric identity verification, delivered as an identification platform, which can be easily integrated as a service platform. The company has developed software solutions, which include biometric face capture and matching, voices and fingerprints, remote document collection and authentication, multi-factor authentication and password-free login, as well as in-depth verification of electronic transactions.
authID.ai was founded in 2011 year, and for 12 months, ended 30 june 2021 of the year, its revenue was 2 million dollars. The company plans to list on the stock exchange Nasdaq under the ticker AUID. ThinkEquity became the sole organizer of the share issue.