authID Inc. announced it has closed its previously announced registered direct offering with investors to sell 1,574,990 shares of its common stock. The purchase price for one Share in the Registered Direct Offering was $6.00. The aggregate gross proceeds from the Registered Direct Offering were approximately $9.4M before deducting placement agent fees and other estimated offering expenses. Madison Global Partners, LLC, acted as sole placement agent for the Registered Direct Offering. authID intends to use the net proceeds of the Registered Direct Offering for working capital and general corporate purposes.
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