IDEX Biometrics interim report for the first quarter of 2024

Core Insights - IDEX Biometrics ASA has released its interim report for Q1 2024, highlighting its focus on biometric smart cards and the introduction of IDEX Pay and IDEX Access as part of its scalable biometric platform [1][2] - The company is supporting its pipeline of committed customers as they prepare for biometric card launches, with the first IDEX Pay cards now entering the market [3][4] - A successful private placement of 33.3 million shares was conducted, raising NOK 55 million (approximately USD 5.1 million), with plans for a subsequent rights offering of up to 8.0 million shares [6] Company Developments - The company is positioned as a full solution provider in the biometric smart card market, with a strong emphasis on security solutions that are expected to drive demand [5] - IDEX Biometrics is collaborating with card manufacturers and technology companies to enhance the commercialization of biometric solutions globally [4][5] - The CEO, Vince Graziani, will present the interim report in a webcast, indicating ongoing engagement with investors and stakeholders [1] Financial Highlights - The private placement was executed at NOK 1.65 per share, slightly below the previous closing price of NOK 1.75 per share, indicating a strategic move to raise capital [6] - The gross proceeds from the placement will support the company's initiatives in the biometric card market [6]