authID Raises $4M via Senior Secured Debentures and 6-Month Warrants
authID agreed to raise $4 million via a private placement of senior secured debentures and warrants exercisable at $1.50 after six months. Investors will receive fee shares equal to 15% of principal at $1.00, with $3.5 million subscribed so far and closing slated for April 29.
1. Offering Terms
authID has entered into a definitive agreement to issue senior secured debentures and warrants in a private placement expected to generate $4 million gross proceeds before fees and expenses. Warrants will become exercisable six months after closing at $1.50 per share.
2. Fee Shares and Pricing
Investors will receive fee shares equal to 15% of their principal investment, priced at $1.00 per share; director investors will receive fee shares at the Nasdaq Consolidated Closing Bid Price. All issuances remain subject to applicable securities laws, Nasdaq rules and the company’s governing documents.
3. Subscription Status and Closing
Subscriptions have reached approximately $3.5 million to date, with participation from Director Stephen Garchik and Director Ken Jisser. The offering is scheduled to close commencing on or about April 29, 2026, subject to customary closing conditions.
4. Use of Proceeds and Advisory
Net proceeds are earmarked for working capital and general corporate purposes. Madison Global Partners, LLC will continue to advise authID on capital markets initiatives, strategic partnerships and long-term growth opportunities.