authID fixes debenture conversion price at $0.38 under backstop deal
AUID•Backstop commitment and funding
- authID entered a backstop commitment agreement with holders of its senior secured debentures on Sept. 9, 2026.
- $300,000 was funded on Sept. 11, 2026, within an up to $500,000 backstop tied to a potential strategic-investor funding.
- Conversion price on all outstanding senior secured debentures was fixed at $0.38, effective upon signing.
- Exercise price on existing warrants was repriced to $0.57 from $1.5.
