authID Announces Closing of $2,100,000 Registered Direct Offering

Core Viewpoint - authID Inc. announced a definitive agreement for a registered direct offering to sell 373,060 shares of common stock at a price of $5.60 per share, aiming to raise approximately $2,100,000 in gross proceeds before expenses [1][2]. Group 1: Offering Details - The closing of the registered direct offering occurred on May 7, 2025, with all closing conditions satisfied [2]. - Dominari Securities LLC and Madison Global Partners, LLC acted as Co-Placement Agents for the offering [2]. - The shares were offered under a shelf registration statement filed with the SEC, which was declared effective on December 13, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and general corporate purposes [2]. Group 3: Company Overview - authID Inc. provides biometric identity verification and authentication solutions, ensuring enterprises "Know Who's Behind the Device™" for customer and employee logins [5]. - The company’s biometric identity platform offers rapid identity proofing in 700 milliseconds and authentication in 25 milliseconds, with a false match rate of 1 in 1 billion [5].